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nyc BLOG estate

REBNY City Wide Sales Report


REBNY (Real Estate Board of New York) released it's city wide quarterly sales report this week.

This quarter's report, the first to feature Manhattan sales prices broken down by neighborhood, shows continued market growth - a 28% increase for all New York City homes compared to first quarter 2007and a 34% rise in New York City apartments (coops and condos).

City-wide housing unit permits for February 2008 are 1,156, down compared to 1,863 permits in February 2007. This is the second month of decline compared to a year ago.

The average apartment sale price on the Upper West Side rose 96% to $2,098,000, followed by Murray Hill at 92% to $1,072,000, Midtown West at 50% to $1,988 compared to year ago.

These increases were driven by brisk sales in new developments in these locations including 15 Central Park West on the Upper West Side. The highest average sale prices were in Soho ($2,304,000) and Tribeca ($2,224,000) reflecting the generally larger units located in these areas.

To access the report click here.

2 comments:

  1. Mitchell,
    It is so refreshing to read how Real Estate is going up when I come to your blog.

    You are the man of Manhattan Real Estate.

    ReplyDelete
  2. Genea Thank you and thanks for stopping by. I'm glad your blog is back. You are the Sacramento Real Estate Voice.

    ReplyDelete

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