Showing posts with label Manhattan Townhouse Markewt Report 2012. Show all posts
Showing posts with label Manhattan Townhouse Markewt Report 2012. Show all posts

Mar 2, 2013

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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