Manhattan Condos - New Developments - Conversions - Resales: Manhattan Monthly Market Report January 2015

Manhattan Monthly Market Report January 2015

Manhattan Monthly Market Report January 2015
 
Average price was up in both the condo and the co-op market compared to last year. Among condos, average price per square foot increased 13%. 
 
Co-ops saw a large gain in median price, which increased 23% compared to last year. Co-ops also saw a significant decrease in average price per square foot, caused in part by a decline in sales of three+ bedroom units, which are often priced higher per square foot than smaller units. 
 
Contracts signed were down 12% since last January, but sales in winter months are typically less robust and influenced by weather. The market is also being influenced heavily by a lack of affordable inventory; there are 12% fewer listings under $1M than last January, while overall inventory is up 7%. Listings for condo units continue to increase, and co-op units declined again year-over-year, with inventory remaining at historic lows.
 
 
 
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Please contact me with your questions about the January 2015 Market Report and the current real estate market. I look forward to speaking with you.
 
 
 
 
   


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Comment balloon 2 commentsMitchell J Hall • February 13 2015 08:23PM

Comments

Need to know anything about the co-op or condo market in Manhattan?  

Mitchell J Hall is the man to contact.  

Posted by Roger D. Mucci, Lets shake things up at your home today! (Shaken...with a Twist 216.633.2092) over 4 years ago

The market in my home town of NYC does not seem to be slowing down, Mitchell, except for seasonal factors.

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Residential Brokerage ) over 4 years ago

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