Showing posts with label manhattan monthly market snapshot. Show all posts
Showing posts with label manhattan monthly market snapshot. Show all posts

May 15, 2014

Manhattan Monthly Market Report | April 2014

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Manhattan Monthly Market Report | April 2014
  
April 2014 showed indicators of a market that is continuing to tighten; price negotiability shrank, days on market dropped in all categories, fewer units than ever before were signed below their asking price, and average price as well as price per square foot rose. 

Generally, smaller units saw bigger gains in price per square foot versus April 2013, particularly in the cooperative market where buyers may be looking at smaller units to find more affordable options. Condominium units saw strong year-over-year gains in all three price metrics, while cooperative unit prices held close to steady. This month had the lowest market share under $500K since we began tracking the statistic in November 2007. 

Inventory declined year-over-year by 10%, continuing the multi-year decline, however with a less dramatic drop than experienced over the prior 18 months. While cooperative units experienced another month of year-over-year decline, the condominium market saw the first month with a year-over-year gain in total listings in over four years. Likely a result of inventory which is still very low, sales volume declined again this month, down 12% versus April 2013 in the condo market and 8% in the cooperative market.


For property owners thinking of selling, there has never been a better or more advantageous time since before the financial collapse of 2008. For buyers looking to act in this market, swift and aggressive action is called for. Whichever you may be, I invite you to contact me with your questions about this report or about the Manhattan real estate market in general.



 
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Sep 11, 2013

Manhattan Monthly Market Snapshot | August 2013

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August 2013 Manhattan Marketwide Report

Average price and average price per square foot increased for both condos and co-ops this August over last august, and inventory continues to decline for both property types. Despite the lack of inventory, contract activity increased year-over-year by 21% for condominiums and 11% for co-ops.

Strong demand is also evident in reduced buyer negotiability and a drop in average days on market. there were some slight month-over-month decreases in average price and average price per square foot due to several landmark sales in July, but year-over-year the condo and coop market remained very strong.





 
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Aug 13, 2013

Manhattan Market Monthly Report | July 2013

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Manhattan Monthly Market Snapshot

Marketwide Summary


Average price per square foot for condos and coops increased significantly this month over last July. The strength of the market is evident in the rising prices and the increase of contract activity this July over July2012. Average sale prices rose 55% year-over-year for condominiums and 69% for coops. This can be attributed to a decline in sales under $1M and a tremendous 400% growth in Corcoran sales over $5M this July compared to last July.

The number of contracts signed this July outpaced last July's number by 25% for condos and by 20% for coo-ops. Negotiability for buyers and the average days on market both declined last July. This July there was a 23% decline in total listings compared to July 2012.



 
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May 10, 2013

Manhattan Monthly Market Report | April 2013

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Manhattan Monthly Market Snapshot | April 2013

Condo and coop sales were very strong this April with the highest number of contracts signed
in the last six years. Contract activity increased 25%for condominiums and 24% for co-ops year-over-year.

Average sale price was up 11% for condos and 21% for coops in April 2013 compared to last year. 

Condo average per square foot increased 11% compared to last year. Average price per square
foot increased in every bedroom category compared to 2012 with the greatest  gains for two bedrooms.

Strong demand, limited inventory and  high prices for new developments attributed to increases.
                                                                                                                                                                                                                         






 
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Apr 15, 2013

Manhattan Monthly Market Report | March 2013

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Marketwide Summary

March proved to be a strong month for condo and coop contract activity. Condo sales increased 16% compared to March 2012 despite a 26% decline in inventory. Average sale price for condos was also up 18% compared to last year.

The co-op market also had a strong month with an 11% gain in average price over last year. Co-op contract activity increased 10% compared to last month, and 4% compared to last year despite a 28% year-over-year drop in inventory.


    



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Jun 10, 2012

Manhattan Monthly Market Report May 2012

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This blog site is designed and published as a consumer service by local real estate broker to help Manhattan, New York City buyers, sellers and renters make informed real estate decisions. This site and its feeds are owned and operated by Mitchell J Hall, a NY State licensed real estate associate broker associated with The Corcoran Group and member of the Real Estate Board of New York.

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