A few highlights from the Third Quarter:
· Despite diminishing inventory levels, the Manhattan sales market thrived in Q3 2013 with 4,164 closings recorded, 5% higher than the same period a year before. Last quarter also marked the highest level of sales activity since Q2 2008 – the last time there were more closings in a single quarter listed inventory was 73% higher.
· Prices reflected strong local, national and international demand, historically low interest rates and a continued influx of all-cash buyers. Market wide average price per square foot reached $1,170 – an increase of 11% from Q2 2012 and 5% from Q2 2013.
· Market wide median price for resale co-ops and condos both reached an all-time high this quarter – at $720,000 and $1,220,000, respectively.
· Inventory continued an established decline with 20% fewer listings available than a year prior.
Full report can be accessed here.
Tagged: Central Park West Apartment, manhattan apartment, manhattan co-op, Manhattan condo, manhattan coop, Manhattan Real estate, manhattan real estate agent, manhattan real estate broker, New York city apartment, New York City Real estate, new york city real estate agent, new york city real estate broker