Marketwide Summary
April advanced this Spring's strong contract activity and price gains. Market -wide contract activity is up 19% from last April with strong activity from both condos and co-ops.Market-wide is even with March but is 10% lower than April 2011,due to a 15% decrease in condo inventory.This limited supply is driving condo prices higher and pushing buyers into the co-op market. Condo average price per square foot is the highest it has been since the market's peak in the summer of 2008.Co-op pricing is down from last year but new buyers in the co-op market are evidenced by 20% year-over-year increase in sales.
source: The Corcoran Group: Manhattan Monthly Market Snapshot
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