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Trends from last quarter:
- Fourth Quarter Contracts Signed at Record High
Contracts signed were up 10% versus last quarter and 3% versus last year. Total contracts signed were 3,216, the highest number for the Fourth Quarter since 2006. 58% of signed contracts were co-ops—affordable available condo listings remain few and far between.
- Price Per Square Foot Sees 11th Consecutive Quarter of Growth
Bolstered by high-end sales, the average price per square foot increased 6% annually to $1,303 market-wide.
- Inventory Continues to Grow, Remains Skewed Toward High End
Growth in inventory continues, up 20% compared to last year. Growth is due to condos, as co-op listings have not seen year-over-year increases since Second Quarter 2011. Current listings are disproportionately high-end residences—properties above $2M represented 41% of available listings.
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