August 2013 Manhattan Marketwide Report
Average price and average price per square foot increased for both condos and co-ops this August over last august, and inventory continues to decline for both property types. Despite the lack of inventory, contract activity increased year-over-year by 21% for condominiums and 11% for co-ops.
Strong demand is also evident in reduced buyer negotiability and a drop in average days on market. there were some slight month-over-month decreases in average price and average price per square foot due to several landmark sales in July, but year-over-year the condo and coop market remained very strong.