Just Published: Halstead Annual Report 2003-2016

Real Estate Agent with Halstead Property, LLC

Over the past 14 years, Halstead has offered the most comprehensive annual report available on the Manhattan apartment market.

Over 200,000 verified sales are included, a number of which were recorded after our quarterly market reports were released.

Also provided is a summary of relevant economic indicators, including data on employment, Wall Street, building permits and interest rates.

Highlights in the report:

• Manhattan apartment prices averaged a record $2,063,252 in 2016, 14% higher than the prior year.
• New developments were solely responsible for the increase in average price, as resale prices declined slightly last year.
• The average new development price of $4,082,292 in 2016 was 34% higher than the year before, and a new record.
• A new record was set in the median apartment price, which crossed $1 million for the first time.
• Market volatility and political uncertainty led to 8% fewer closings than in 2015.The 12,958 reported sales was the lowest annual figure since 2011.
• While Midtown East saw its average price jump 64% last year, this was due to the large number of closings at 432 Park, which inflated 2016’s data.
• Both Downtown markets and Upper Manhattan saw their average apartment prices rise in 2016.
• Midtown West posted the biggest decline in prices last year, due to a reduction in new development closings, particularly at One57.

Click Here to view the complete report


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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Ross, nice update for the Manhattan real estate market, and sure looks like your market is still HOT.

Apr 01, 2017 05:08 AM #1
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Ross Ellis

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