Showing posts with label neighborhood real estate guide. Show all posts
Showing posts with label neighborhood real estate guide. Show all posts

Jul 18, 2007

"Market Data" on Website

0 comments
How many Manhattan condos were sold in the fourth quarter last year?

What is the percentage increase in average apartment price in the 10022 zip code over the past five years?

These questions can easily be answered on my CBHK website, which now boasts a "Market Data" button with extensive information about the Manhattan and New York City real estate markets.

The Market Data on my website consists of an overview of the entire New York City market, including average sales prices from the past 5-10 years, median prices, prices per room and average prices per zip code.

In addition, prices for Manhattan co-ops, condos, lofts, townhouses and luxury real estate are broken down.

Jul 7, 2007

Manhattan Market Still Rising: 2Q-07 Update

0 comments
This week Manhattan brokers released their 2Q-07 market reports. While the numbers are always a little different from each report the consensus seems to be condo prices rose while coops prices declined slightly and overall apartment average prices are up and inventory is down.

According to a report by Miller Samuel, a leading appraisal company the average sales price of Manhattan condos and co-ops dropped from $1.39 million in second-quarter 2006 to $1.33 million in second-quarter 2007, and the median sales price rose from $880,000 in second-quarter 2006 to $895,000 in second-quarter 2007.

The average price per square foot was $1,139 in the second quarter, up 5 percent compared to second-quarter 2006, and the for-sale inventory declined 31.5 percent, to 5,237 units.

Price per square foot increased 10.7 percent among uptown for-sale units, to $630; 7.2 percent for downtown units, to $1,099; 4.3 percent for west side units, to $1,153; and declined 4 percent for east side units, to $1,134.

Condos and co-ops spent an average 117 days on market in the second quarter, down 18.6 percent compared with 144 days in second-quarter 2006.

While the median sales price of Manhattan condos climbed 5.1 percent and the average price rose 0.3 percent in the second quarter compared to the same quarter last year, the median sales price of co-ops dropped 3.7 percent and the average price dropped 11.2 percent.

Miller Samuel reported 1,595 co-op sales and 2,344 condo sales in the second quarter.

Brown Harris Stevens and Halstead Property, in their report by economist Gregory J. Heym, announced a 7 percent rise in the average price and an 11 percent rise in the median price of Manhattan co-ops and condos in the second quarter compared to the same quarter last year.

The average sale price, according to this report, rose across the board for every size co-op and condo in the second quarter compared to the prior year's quarter, and was up 18.3 percent for units with four or more bedrooms, 11.4 percent for studios, 10 percent for one-bedroom units, 5.1 percent for two-bedroom units and .06 percent for three-bedroom units.

The average price per square foot for Manhattan condos and co-ops increased from $999 in second-quarter 2006 to $1,122 in second-quarter 2007, a rise of 12.3 percent.

The market is strong in Manhattan I see it everyday. However these numbers should always be taken with a grain of salt. No body lives in an average or median apartment. There are always variables and not every apartment goes up or down in sync.

Many people want to live in Manhattan. From all demographics and all over the world. For many buyers condos have always been worth more simply because they are easy to buy and many buyers might not be eligible for a coop and there are less condos than coops in Manhattan.

Coops are still a fact of life for most Manhattanites but the "exclusivity", "character and charm" along with difficult boards are becoming less desirable as opposed to new luxury condos with many amenities and flexibility for the new breed of buyers in Manhattan.

For more information: Miller Samuel, New York Times
 
HOME

Web Analytics

Clicky

This site and its feeds are owned and operated by Mitchell Hall, a NY State licensed real estate associate broker associated with The Corcoran Group and member of the Real Estate Board of New York.

Legal Disclaimer - The opinions expressed here are those of the authors and do not neccessarily reflect the opinions or policy of The Corcoran Group. This site is not the official website of The Corcoran Group or its affiliated companies, and neither The Corcoran Group nor its affiliated companies in any way warrant the accuracy of any information contained herein. Any product and/or services offered for sale on this website shall not be considered an offer to sell such goods and/or services in any state other than New York.

Legal Disclaimer - Information on this site is not intended as legal or financial advice. - All material herein is intended for information purposes only and has been complied from sources deemed reliable. Though information is believed to be correct, it is presented subject to errors, omissions, changes or withdrawal without notice. I operate a business that supports Fair Housing.“We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program which there are no barriers to obtain housing because of race, color, religion, sex, handicap, familiar status or national origin.”

Copyright 2006 -2013 nyc BLOG estate All Rights Reserved