Manhattan Townhouse Market Report

By
Real Estate Agent with The Corcoran Group

Manhattan (Brownstone) Townhouse


The Corcoran Group published the Manhattan Townhouse Annual Report. The report is a survey of closed sales market-wide in 2010 (as compared to 2009).  It surveys several distinct markets, as well as the luxury high-end, breaking out single-family homes from multi-family ones (for the purpose of the report, multi-family townhouses contained two, three or four units only; buildings with more were classified as apartment buildings and were not included).  Only arms-length transactions are studied.

In 2010, there were 196 market-wide townhouse transactions, a 61 percent increase over 2009. Both the single-family and multi-family sectors increased in sales volume, by 68 percent and 54 percent, respectively, versus 2009. While both markets improved sharply in sales from a year ago, price performance differed considerably.

In the single-family market, median price grew 6 percent from a year ago to $5.825 million while average price per square foot increased 8 percent to $1,619. Multi-family townhouse sales, however, decreased 3 percent in median price to $1.65 million while average price per square foot decreased 12 percent to $709 per square foot.

Download the complete report here: Manhattan Townhouse Report.

Click here to receive Manhattan Townhouse Listings.

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Rainer
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Peggy Hughes/pha logistix, inc.
pha logistix inc - San Francisco, CA
SF NYC LA

Interesting numbers, Mitchell.  All the doom and gloom constantly reported in the newspapers, certainly get dispelled by actual activity... if only people would understand that the media is being 'paid' to be promote the negative.

Mar 10, 2011 06:20 PM #1
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Patricia Kennedy
Evers & Company Real Estate, Inc. - Washington, DC
For Your Home in the Capital

Mitch, I lived in an old brownstone at 46 E 83rd that was chopped up into about 10 apartments.  I think it's now a condo.  It's hard to imagine having a whole townhouse all to myself.

Mar 11, 2011 01:19 PM #2
Rainer
9,284
Ronnie Shumake
Town Residential - New York, NY

The market here is a unique animal when compared to other markets. While a dip has occurred here, it is far from the slump seen in other parts of the country. Excellent post Mitchell.

Mar 16, 2011 03:49 PM #3
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Hannah Williams
Re/Max Eastern inc. - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-953-8818

Mitchell ..I love when you post these townhomes that are multi units..it always looks like something straight out of Sex and the City

Helpfulhannah

Mar 18, 2011 08:13 AM #4
Rainmaker
709,845
Ruthmarie Hicks
Keller Williams NY Realty - 120 Bloomingdale Road #101, White Plains NY 10605 - White Plains, NY

This is great news.  So much for the doom and gloom about prices continuing to tank....It has implications for Westchester too.

Mar 18, 2011 04:23 PM #5
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Ellie McIntire
Ellicott City Clarksville Howard County Maryland Real Estate - Ellicott City, MD
Luxury service in Howard County & Catonsville

It's the most expensive Real Estate in the country. It must be fun to show those homes.

Mar 21, 2011 05:07 AM #6
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Mitchell J Hall

Lic Associate RE Broker - Manhattan & Brooklyn
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