CityRealty's monthly rundown of the Manhattan residential real estate market.
The average price of a condo was $3.6 million and the average price of a co-op was $1.2 million. There were 389 condo sales and 428 co-op sales.
The average sales price and number of Manhattan apartment sales both increased in the four weeks leading up to April 1. 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, 817, was up from the 789 recorded in the preceding month.
Downtown was the highest-grossing region in Manhattan, with $723 million in condominium sales. The Upper East Side was the second highest-grossing area, with $280 million in sales. Downtown also had the highest price/ft2, $2,214/ft2, while the Upper East Side had the second-highest, $1,791/ft2.
New development condo prices averaged $2,541/ft2 this month, compared to $1,667/ft2 for non-new development condominium sales. The average price, $6.7 million, was up this month from $5.4 million the prior month. There were 116 new development sales this month, compared to 123 in the prior month. The price/ft2 of new apartments was 11% higher than it was a year ago, when it was $2,293/ft2, and 8% more than it was last month, when it was $2,355/ft2. The aggregate sales total of new developments was $775 million.
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