CityRealty's September 2017 market report includes all public records data available through August 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 fell in the four weeks leading up to August 1, as did the number of sales. The average price for an apartment—taking into account both condo and co-op sales—was $2.1 million, down from $2.3 million the prior month. The number of recorded sales, 948, represented an increase from the 1,207 recorded in the preceding month.
The average price of a condo was $2.9 million and the average price of a co-op was $1.6 million. There were 409 condo sales and 539 co-op sales.
30-Day Total Sales by Region
Downtown was the highest-grossing region in Manhattan, with $513 million in condominium sales. Midtown was the second highest-grossing area, with $244 million in sales. Downtown also had the highest price/ft2, $2,136/ft2, while Midtown had the second-highest, $1,733/ft2.New Developments vs All Other Condos:
New development condo prices averaged $2,074/ft2 this month this month, compared to $1,760/ft2 for non-new development condominium sales. The average price, $3.9 million, was down this month from $4.6 million the prior month. There were 106 new development sales this month, down from the 156 recorded in the prior month. The price/ft2 of new apartments was 18% lower than it was a year ago, when it was $2,458/ft2, and 8% less than it was last month, when it was $2,248/ft2. The aggregate sales total of new developments was $410 million.
6sqft delivers the latest on real estate, architecture, and design, straight from New York City.
