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- Contract activity in July 2019 diverged for co-ops and condominiums, improving by 8% for co-ops… but declining 1% for condos compared to last year.
- All condo and co-op price figures decreased year-over-year, with median sale price falling most for condos and average sale price falling most for co-ops.
- Listed inventory for condos and resale co-ops increased versus last year, up 9% and 7%, respectively.
- In tandem with the rise in inventory, average days on market for condos and co-ops increased 30% and 27% year-over-year, respectively.
- Negotiability rose for condos – to a 4.5% average discount, but remained lower for co-ops – at a 2.2% average discount from last ask.
- In July 2019, contracts signed fell 8% compared to last year – to 293 total sales.
- Although this decline was exaggerated due to a strong July 2018, the number of sales this year were nevertheless at their lowest level for July since 2014.
- Compared to last year, price statistics fell across the board – driven lower by fewer sales over $4M and less activity in prime neighborhoods.
- Average sale price decreased the most, down 13% year-over-year, while median price fell 8% year-over-year.
- Days on market increased 16% year-over-year to 98 days on average, the highest July reading in six years.