Feb 22, 2013

Manhattan Market - Strongest Quarter Ever


The Manhattan market has never been stronger, reaching the highest prices ever recorded.


12,000+ Contracts 

1. MOST SALES SINCE THE PEAK

There were 12,384 contracts signed in 2012, up 19% versus 2011 and the highest number of sales since 2007. This increase in contract activity is even more impressive given the record low inventory.


$1,689  price per square foot

2. RECORD CONDO PRICES

Strong demand and limited supply caused condo average price to reach record highs of $2.36MM and $1,689 per square foot in Fourth Quarter.


- 24%

3. INVENTORY AT 8-YEAR LOW

With 5,366 available listings, listed inventory is down 24% in the past year. The last time buyers had such limited product to choose from was First Quarter 2005.


Please note the above information is based on contracts signed and is from sources deemed reliable but no guarantee or representation is made by Corcoran Sunshine as to its accuracy. Equal Housing Opportunity.

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