Showing posts with label monthly maket snapshot. Show all posts
Showing posts with label monthly maket snapshot. Show all posts

Aug 14, 2011

Manhattan Monthly Market Snapshot - July 2011

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Jun 29, 2011

Manhattan Monthly Market Snapshot - May 2011

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May 8, 2010

Manhattan Monthly Market Snapshot: April 2010

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Marketwide Summary

Market-wide sales activity continued to gain momentum in April, the strongest month since October 2007. Versus a year ago, condominium sales are up 139% while co-op sales are up 91%. listed inventory increased slightly from March but is 24% lower than April 2009. Average price per square foot reached its highest level since February 2009.

Condominium Market Snapshot

Condominium sales volume increased 10% in April versus march 2010 and 139% from April 2009. Average sale price is 10% higher than March 2010 and 21% higher than April 2009.  Average price per square foot increased 7% from a month ago and 17% from a year ago. Every bedroom category increased in price per square foot except studios. Condominium inventory increased slightly to almost 4,500 units but is 28% lower than April 2009. Days on market is now averaging just under 9 months from list to sale date.

Condominiums: April 2010
  • Average Sale Price: $1,692,872
  • Median Sale price: $1,187,500
  • Average Price per Square Foot: $1259
  • Days on Market:  266
  • Discount from Ask to Sale: -10.4%
  • Listed Inventory: 4,474
  • Number of Contracts Signed1: 477
Cooperative Market Snapshot

Co-op sales volume increased 22% versus March 2010 and 91% from April 2009. Averaging sale price increased 6% from a month ago and 16% from a year ago. Average price per square foot increased9% versus last month and April 2009. Co-op inventory increased 5%  from a month ago but is almost 20% lower than April 2009. Days on market is now averaging approximately 5 months, 6% higher than March 2010 but remains even versus a year ago.
  
Co-ops: April 2010
  • Average sale price: $947,024
  • Median Sale Price: $681,000
  • Average Price per Square Foot: $915
  • Discount from Last Ask to sale: -4.0%
  • Listed Inventory: 4,290
  • Number of signed Contracts1 689
Negotiability Factor by Price Point

The negotiability factor from last ask to sale price has gradually decreased over the past year. Sales transacted during April 2010 averaged approximately 6.7% below last asking price, whereas during April 2009, the negotiability factor was approximately 11%.

Manhattan Absorption vs. New / Total Listings

Manhattan listed inventory increased 5% from March 2010 and now totals just over 9,500 units. Available inventory is 23% below its peak during March 2009. The number of new listings coming to market increased 71% from last month. Absorption increased 88% from March 2010 and 111% from April 2009.

Notes: 
Statistics are based on Corcoran Group's monthly signed contract data, with the exception of "Number of Contracts Signed"' 
1 Number of reported signed contracts in Manhattan by all firms
 
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