Manhattan Market - Strongest Quarter Ever
The Manhattan market has never been stronger, reaching the highest prices ever recorded.
12,000+ Contracts
1. MOST SALES SINCE THE PEAK
There
were 12,384 contracts signed in 2012, up 19% versus 2011 and the
highest number of sales since 2007. This increase in contract activity
is even more impressive
given the record low inventory.
$1,689 price per square foot
2. RECORD CONDO PRICES
Strong
demand and limited supply caused condo average price to reach record
highs of $2.36MM and $1,689 per square foot in Fourth Quarter.
- 24%
3. INVENTORY AT 8-YEAR LOW
With
5,366 available listings, listed inventory is down 24% in the past
year. The last time buyers had such limited product to choose from was
First Quarter
2005.
Please
note the above information is based on contracts signed and is from
sources deemed reliable but no guarantee or representation is made by
Corcoran Sunshine
as to its accuracy. Equal Housing Opportunity.
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