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Manhattan Townhouse Market Report | 2012

The Corcoran Townhouse Report, now available is an annual examination of Manhattan’s single- and multifamily townhouse market. This report uses market wide data based on transactions that closed in 2012 and compares it to closings that took place in 2011.

Market-wide, 2012 witnessed the highest number of townhouse sales since 2007. There were 270
townhouse sales in 2012, a 34% increase from 2011. A surge in single-family townhouse transactions
this year drove the overall market to this post-downturn high. In 2012, there were 151 single-family
townhouse transactions, a 42% increase from 2011. 

Strong price performance in the Village and Upper East Side helped drive market-wide median price up 14% from last year to $6.25 million. Average price per square foot increased year-over-year by 7%.

The multi-family townhouse market had a strong year with sales up 25%. There were 119 closings in
2012, up from 95 sales in 2011. Record high rental rates drove investor and buyer interest for multifamily townhouses in the city’s prime neighborhoods. 

As a result, median price increased 76% from last year to $2.638 million. Average sale price increased in every submarket compared to last year, leading to an overall 30% gain in market-wide average price. Average price per square foot also increased year-over-year by 30% to $881 per square foot.


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