manhattan residential real estate: 4Q 2015 Manhattan Residential Market Report
- 01/09/16 01:20 AM
Both the average and median apartment price reached record levels in the fourth quarter. At $1,944,744, the average price for all apartments was 10% higher than a year ago and 5% more than the prior record set in 2015’s first quarter. The median price crossed the $1 million mark for the first time, climbing 18% over the past year to $1,150,000. The total number of closings was 12% higher than the fourth quarter of 2014, fueled by a sharp rise in new development closings. Two key events led to these record prices. First was a rise in new development closings, which accounted … (1 comments)
manhattan residential real estate: Halstead Property Q3 2014 Manhattan Market Report
- 10/12/14 12:58 AM
The average price for all Manhattan apartments was $1,675,021 in the third quarter, 18% more than a year ago. While this is slightly below the record level of 2014’s first quarter, it is the second highest average price ever. Much this increase over the past year has been due to luxury activity, as the median price rose only 3% during this time to $898,500. Lower inventory combined with rising prices led to fewer sales than a year ago, with reported transfers down 15%.
Resale apartment prices averaged $1,545,875, or 13% more than in 2013’s third quarter. Helped by a … (0 comments)
manhattan residential real estate: 2nd Q 2012 Manhattan Residential Market Report
- 07/07/12 01:06 AM
Manhattan Apartment Inventory Remains Lower Than 2011 Levels • For the week ending June 22nd, there were 7,117 apartments available for sale in Manhattan, 13% fewer than at the same time in 2011. At the current pace of sales, that represents a 7.8 month supply of apartments, consistent with a healthy market. • The steep decline in new construction over the past three years has kept inventory tight. From 2009-2011, building permits averaged just over 1,500 units per year, compared to an average of 6,671 the prior ten years. • Downtown has 29% of all available apartments, followed by the … (0 comments)
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