Mar 2, 2011

Manhattan Townhouse Market Report


The Corcoran Group published the Manhattan Townhouse Report. The report is a survey of closed sales market-wide in 2010 (as compared to 2009).  It surveys several distinct markets, as well as the luxury high-end, breaking out single-family homes from multi-family ones (for the purpose of the report, multi-family townhouses contained two, three or four units only; buildings with more were classified as apartment buildings and were not included).  Only arms-length transactions are studied.

In 2010, there were 196 market-wide townhouse transactions, a 61 percent increase over 2009. Both
the single-family and multi-family sectors increased in sales volume, by 68 percent and 54 percent,
respectively, versus 2009. While both markets improved sharply in sales from a year ago, price
performance differed considerably.

In the single-family market, median price grew 6 percent from a year ago to $5.825 million while
average price per square foot increased 8 percent to $1,619. Multi-family townhouse sales, however,
decreased 3 percent in median price to $1.65 million while average price per square foot decreased 12
percent to $709 per square foot.

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