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NEW YORK CITY—Overall sales and pricing per square foot are downin Manhattan residences compared to Q1 2019, according to New YorkCity real estate firm M.N.S.

Median sales price fell by nearly 23% from $2.9 million in Q12019 to $2.3 million in Q1 2020. Price per square foot is also down4.5% from Q1 2019′s $2,110 to $2,014.

Manhattan residential sales also continue to slide from lastquarter, according to M.N.S. Sponsor sales in Manhattan decreased13% from Q4 2019′s 346 sales to 301 in Q1 2020. Total sales volumealso fell nearly 24% as median sales price dipped by 1.3%.

However, while some neighborhoods' pricing has dropped, someareas have experienced a sales boost.

The Upper West Side had the highest number of sponsor sales thispast quarter, according to the M.N.S. report. Out of 301 totalsales, 64 (or 21.3%) occured in the Upper West Side. Thesecond-highest amount of sales occurred in Harlem, with 58 (19.3%)sales.

The Murray Hill area had the largest market upswing, accordingto M.N.S. The median sales price in Murray Hill increased 36% to$1.9 million, as the neighborhood's median price per square jumpedby 35.5%. Earlier this month, we reported that Jones Lang LaSallewas selling a Murray Hill-based 9,124-square-foot apartment buildingfor $10.25 million.

Meanwhile, Midtown West experienced the largest quarterlydownswing, M.N.S. reported. The median price per square foot fell28% to $2,425. Still, the median sales price in Midtown West grewnearly 72% from $1.9 million to $3.4 million.

M.N.S. reported 42% of sponsor unit sales were for one-bedroomunits, 31% were two-bedroom residencies, while 26% werethree-bedroom or larger dwellings and only 2% were studios.

Office Leasing is Also Sluggish

As Manhattan sales dip in residential units, downtown andMidtown Manhattan office leasing has also been sluggish. Lastmonth, we reported that Midtown is on track for thelargest quarterly supply of office inventory in fiveyears. However, downtown and Midtown South didsecure  officeleasing agreements in 2019, but with COVID-19 emptying many Midtown offices, inventory isonly growing as more people work from home.