• Home
  • About
    • Bios
  • Blog
  • Connect
  • Listings
    • Laura's Listings (external)
    • Find Properties (external)
    • Recent Sales (external)
Laura Matiz

Blog

Manhattan Sales Report 3Q 2017 Highlights

10/29/2017

0 Comments

 
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.
Picture
  • Median sales price increased 9.3% to $1,170,000 while average sales price slid 1.3% to $2,002,835 from the year ago record, respectively, over the same period. The difference in direction reflects the decline of the “legacy contract” pipeline, defined as contracts signed several years ago that closed when construction of the building was completed.
  • The overall number of sales increased 13% to 3,369 over the same period, the highest quarterly total in two years. The number of sales was 20% higher than the 2,732 quarterly average of the past decade.
  • With heavy sales volume overpowering supply, overall listing inventory was unable to keep up with demand. Re-sale inventory fell 4.1% and new development active inventory rose 6.9% for an overall decline of 2.4% to 6,115 apartments.
  • The absorption rate, the number of months to sell all inventory at the current rate of sales, was faster, falling to 5.4 months from 6.3 months in the year-ago quarter. The co-op market moved much more quickly than the condo market consistent with the lower pricing of co-ops than condos and the “softer at the top” housing narrative of the past several years.
  • Listing discount, the percentage difference between the list price at the date of sale and the sales price, more than doubled to 5.5% from 2.9% in the prior year quarter as sellers traveled farther to meet the buyer on price.
See the full Elliman Reports: Manhattan sales report.

Categories: Douglas Elliman
0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Categories

    All
    Art
    Bidding Wars
    Douglas Elliman
    Drones
    Ferry
    Global
    Holidays
    Magazine
    Mortgages
    Museums
    New Developments
    Newletter
    NYC History
    Open Data
    Parks
    Policy
    Property Tax
    Schools
    Select Listings
    Spaces
    Technology
    Tips
    Transit
    Trulia
    Video
    Volunteerism
    Zillow

    Archives

    October 2019
    April 2019
    October 2018
    July 2018
    January 2018
    October 2017
    April 2017
    January 2017
    October 2016
    August 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    January 2014
    December 2013
    November 2013
    May 2013
    October 2012

    RSS Feed

lauramatiz.com

About
Blog
Connect

Laura Matiz

Licensed Associate Real Estate Broker
575 Madison Avenue
New York City, NY 10022
Email: lmatiz@elliman.com
Twitter: @lmatiz
Office: 212.891.7252
Mobile: 917.951.6263

Subscribe to my mailing list

* indicates required
  • Home
  • About
    • Bios
  • Blog
  • Connect
  • Listings
    • Laura's Listings (external)
    • Find Properties (external)
    • Recent Sales (external)