CityRealty's monthly rundown of the Manhattan residential real estate market.
The average sales price of a Manhattan apartment was virtually unchanged in the four weeks leading up to November 1, and the number of sales was also fairly static. The average price for an apartment - taking into account both condo and co-op sales - was $1.9 million, as it had been the prior month. The number of recorded sales, 924, represented a small drop from the 935 recorded in the preceding month.
The average price of a condo was $2.7 million and the average price of a co-op was $1.2 million. There were 410 condo sales and 514 co-op sales.
30-Day Total Sales by Region
Downtown was the highest-grossing region in Manhattan, with $353 million in condominium sales. Midtown was the second highest-grossing area, with $244 million in sales. Downtown also had the highest price/ft2, $2,148/ft2, while Midtown had the second-highest, $1,823/ft2.
Downtown was the highest-grossing region in Manhattan, with $353 million in condominium sales. Midtown was the second highest-grossing area, with $244 million in sales. Downtown also had the highest price/ft2, $2,148/ft2, while Midtown had the second-highest, $1,823/ft2.
NEW DEVELOPMENTS VS ALL OTHER CONDOS:
New development condo prices averaged $2,086/ft2 this month, compared to $1,634/ft2 for non-new development condominium sales. The average price, $4.1 million, represented an increase over the average last month, $3.6 million. There were 124 new development sales this month, virtually the same as the 127 recorded in the prior month. The price/ft2 of new apartments was 19% lower than it was a year ago, when it was $2,569/ft2, and down slightly from last month, when it was $2,095/ft2. The aggregate sales total of new developments was $507 million.
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