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- Co-op prices experienced significant year-over-year gains of 32% in average price and 34% in price per square foot. Condo prices saw more modest gains of 5% and 19%, respectively.
- Number of contracts signed dropped 19% in condos and 17% in co-ops. This can be attributed to strong sales in February 2013, lack of available supply and uncharacteristically cold and snowy winter.
- Days on market decreased by double digits in both categories. Average days on market dropped to 109 days for condos and 91 days for co-ops.
- Average sale price increased 15% year-over-year, continuing a trend of twelve consecutive months of growth.
- In February, buyers paid an average of 1.1% over last asking price with 55% of contracts signing above asking price and 13% signed at asking price.
- Average days on market decreased by 18% year-over-year. There were also 24% fewer new listings compared to last month and 61% less than February 2013.
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