CityRealty's August 2017 market report includes all public records data available through July 31, 2017 for deeds recorded the prior month
CityRealty's monthly rundown of the Manhattan residential real estate market.
The average sales price of a Manhattan apartment rose in the four weeks leading up to July 1, as did the number of sales. The average price for an apartment—taking into account both condo and co-op sales—was $2.3 million, up from $2.2 million the prior month. The number of recorded sales, 1,207, represented an increase from the 1,084 recorded in the preceding month.
The average price of a condo was $3.2 million and the average price of a co-op was $1.5 million. There were 564 condo sales and 643 co-op sales.
30-Day Total Sales by Region
Downtown was the highest-grossing region in Manhattan, with $885 million in condominium sales. Midtown was the second highest-grossing area, with $320 million in sales. Downtown also had the highest price/ft2, $2,136/ft2, while the Upper West Side had the second-highest, $1,742/ft2.New Developments vs All Other Condos:
New development condo prices averaged $2,248/ft2 this month, compared to $1,740/ft2 for non-new development condominium sales. The average price, $4.6 million, was down substantially this month from $5.7 million the prior month. There were 156 new development sales this month, exactly the same number as were recorded in the prior month. The price/ft2 of new apartments was 6% lower than it was a year ago, when it was $2,384/ft2, and 4% less than it was last month, when it was $2,330/ft2. The aggregate sales total of new developments was $728 million.
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