Source: Compiled from the Elliman Reports 1st Quarter 2020 Highlights and Press Release After a fast start to the quarter, the Coronavirus outbreak quickly slowed market conditions by early March. New Year 2020 through mid-March, 2020 The first quarter of 2020 started with a 13.5% year over year jump in the number of sales to 2,407. Sales in eight of the ten price strata rose annually, with the most significant percentage gains seen from $4 million to $7 million. All three overall price trend indicators haven’t seen a year over year increase in three straight quarters as sellers slowly capitulated to softer market conditions. This adjustment resulted in a sharp rise in sales. Final two weeks of March 2020 After two years of weakening sales, the first quarter of 2020 showed a jump in closings as sellers became more in sync with the current market. However, that pattern was not reflective of the recent change in market conditions that began in early March and has been measured in terms of days. The near-term outlook for the Manhattan housing sales market is predicated on how long the consumer thinks it will take for the pandemic footprint to decline and when “shelter in place” restrictions end statewide. If the outbreak is not prolonged, there is still potential for a release of pent- up demand, but this depends on the extent of damage done to the economy. Categories: Douglas Elliman
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Compiled from the Elliman Reports 3rd Quarter 2019 Highlights and Press Release The recent Mansion Tax deadline poached sales from this quarter back into the prior quarter. ![]()
Categories; Douglas Elliman
Compiled from the Elliman Reports 1st Quarter 2019 Highlights and Press Release The first quarter of the Manhattan housing market was notable for its extremes.
Categories: Douglas Elliman
Compiled from the Elliman Reports 3rd Quarter 2018 Highlights and Press Release The decline in sales has been the primary barometer of the change in the real estate market during 2018. ![]()
Categories: Douglas Elliman
Compiled from the Elliman Reports 2nd Quarter 2018 Highlights and Press Release The market was characterized by a lower level of activity, more supply and modest resale price gains.
Categories: Douglas Elliman
Compiled from the Elliman Reports 4th Quarter 2017 Highlights and Press Release Pace of fall market cooled as market participants awaited the housing-related terms of the new federal tax bill. ![]() Overview
Numbers Summary
Categories: Douglas Elliman
Compiled from the Elliman Reports 3rd Quarter 2017 Highlights More sales, less inventory and record pricing in segments in the co-op and re-sale markets. ![]()
Categories: Douglas Elliman
Compiled from the Elliman Reports 1st Quarter 2017 Highlights There was a release of pent-up demand in the resale market accumulated before the U.S. election last November. ![]()
See the full Elliman Reports: Manhattan sales report. Categories: Douglas Elliman
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Laura Matiz | Blog |