I am delighted to share with you our newly-redesigned Q1 Manhattan Report. Inside you will find a detailed analysis of residential real estate sales that closed in Manhattan in Q1 2015 (January 1stthrough March 31st).
Key Findings of the First Quarter Report:
· Robust sales. The pace of sales continues to be brisk. More properties closed in the First Quarter this year than in the prior quarter or in the same quarter one year ago.
· Higher prices. Significant price appreciation, especially in the condominium market, drove most price metrics higher year-over-year. The average price per square foot in Manhattan is now $1602.
· Skewed inventory. There is very short supply in the co-op market and in small-scale units. 95% of all home purchases in Manhattan take place below $5M, but nearly 20% of all actively listed properties exceed that price.
Please do not hesitate to reach out if you have any questions about The First Quarter Manhattan Market Report or the Manhattan market in general. I welcome the opportunity to be of assistance to you.