The Q4 2012 Manhattan Residential Sales Market Report is now available. This report provides a comprehensive overview of current sales market conditions and tracks trends market-wide and by neighborhood.
A few highlights from the Fourth Quarter:
- Market-wide sales in Q4 2012 increased 20% vs. Q4 2011 to 3,200. The strong sales performance was even more impressive given current market challenges such as record low inventory levels and limit new development supply.
- Prices responded to tight market conditions with a market-wide median price increase of 8% versus Q4 2011. Average price per square foot rose to $1,076, up 2% from last quarter and 3% from the same period last year.
· The number of available listings market-wide in Manhattan reached 6,514 in Q4 2012, its lowest point in over seven years and a 19% decline from the same time period last year.
Full report is available here