Marketwide Summary
Market-wide sales activity continued to gain momentum in April, the strongest month since October 2007. Versus a year ago, condominium sales are up 139% while co-op sales are up 91%. listed inventory increased slightly from March but is 24% lower than April 2009. Average price per square foot reached its highest level since February 2009.
Condominium Market Snapshot
Condominium sales volume increased 10% in April versus march 2010 and 139% from April 2009. Average sale price is 10% higher than March 2010 and 21% higher than April 2009. Average price per square foot increased 7% from a month ago and 17% from a year ago. Every bedroom category increased in price per square foot except studios. Condominium inventory increased slightly to almost 4,500 units but is 28% lower than April 2009. Days on market is now averaging just under 9 months from list to sale date.
Condominiums: April 2010
Co-op sales volume increased 22% versus March 2010 and 91% from April 2009. Averaging sale price increased 6% from a month ago and 16% from a year ago. Average price per square foot increased9% versus last month and April 2009. Co-op inventory increased 5% from a month ago but is almost 20% lower than April 2009. Days on market is now averaging approximately 5 months, 6% higher than March 2010 but remains even versus a year ago.
Co-ops: April 2010
The negotiability factor from last ask to sale price has gradually decreased over the past year. Sales transacted during April 2010 averaged approximately 6.7% below last asking price, whereas during April 2009, the negotiability factor was approximately 11%.
Manhattan Absorption vs. New / Total Listings
Manhattan listed inventory increased 5% from March 2010 and now totals just over 9,500 units. Available inventory is 23% below its peak during March 2009. The number of new listings coming to market increased 71% from last month. Absorption increased 88% from March 2010 and 111% from April 2009.
Notes:
Statistics are based on Corcoran Group's monthly signed contract data, with the exception of "Number of Contracts Signed"'
1 Number of reported signed contracts in Manhattan by all firms
Market-wide sales activity continued to gain momentum in April, the strongest month since October 2007. Versus a year ago, condominium sales are up 139% while co-op sales are up 91%. listed inventory increased slightly from March but is 24% lower than April 2009. Average price per square foot reached its highest level since February 2009.
Condominium Market Snapshot
Condominium sales volume increased 10% in April versus march 2010 and 139% from April 2009. Average sale price is 10% higher than March 2010 and 21% higher than April 2009. Average price per square foot increased 7% from a month ago and 17% from a year ago. Every bedroom category increased in price per square foot except studios. Condominium inventory increased slightly to almost 4,500 units but is 28% lower than April 2009. Days on market is now averaging just under 9 months from list to sale date.
Condominiums: April 2010
- Average Sale Price: $1,692,872
- Median Sale price: $1,187,500
- Average Price per Square Foot: $1259
- Days on Market: 266
- Discount from Ask to Sale: -10.4%
- Listed Inventory: 4,474
- Number of Contracts Signed1: 477
Co-op sales volume increased 22% versus March 2010 and 91% from April 2009. Averaging sale price increased 6% from a month ago and 16% from a year ago. Average price per square foot increased9% versus last month and April 2009. Co-op inventory increased 5% from a month ago but is almost 20% lower than April 2009. Days on market is now averaging approximately 5 months, 6% higher than March 2010 but remains even versus a year ago.
Co-ops: April 2010
- Average sale price: $947,024
- Median Sale Price: $681,000
- Average Price per Square Foot: $915
- Discount from Last Ask to sale: -4.0%
- Listed Inventory: 4,290
- Number of signed Contracts1 689
The negotiability factor from last ask to sale price has gradually decreased over the past year. Sales transacted during April 2010 averaged approximately 6.7% below last asking price, whereas during April 2009, the negotiability factor was approximately 11%.
Manhattan Absorption vs. New / Total Listings
Manhattan listed inventory increased 5% from March 2010 and now totals just over 9,500 units. Available inventory is 23% below its peak during March 2009. The number of new listings coming to market increased 71% from last month. Absorption increased 88% from March 2010 and 111% from April 2009.
Notes:
Statistics are based on Corcoran Group's monthly signed contract data, with the exception of "Number of Contracts Signed"'
1 Number of reported signed contracts in Manhattan by all firms
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1 Response to "Manhattan Monthly Market Snapshot: April 2010"its better then the previous....
Thank you for sharing....
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