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A blog from CityRealty (Links below will take you to the 6sqft site)

Features

Rendering of terrace penthouses at 40 Bleecker Street in NoHo Rendering of terrace penthouses at 40 Bleecker Street in NoHo
For the first five months of 2021, Manhattan apartment sales volume is up 42% year-over-year, recording 4,971 condo, condop, and co-op transactions compared to 2020's 3,504 sales, and 2019's 4,367 sales. However, due to a substantial decline in pricing, 2021's aggreagate dollar-figure amount of $8.7B is just 29% above 2020's $6.746B, and 4% below 2019's $9.05B.

So far this year, the average price paid for a Manhattan condo is $2.44M, down 9% year-over-year and 16% under 2019's condo average. Co-ops showed similar declines when comparing sales recorded over the same 5-month period across each year. 2021's average co-op sale price stands at $1.33M, down 7% from 2020 and down 17% compared to 2019.

Confidence can be found in more recent statistics which indicate the market may have bottomed out in the first quarter of 2021. Average condo sale prices in the second quarter are up 15% compared to the first, and the average price/ft2 paid has edged up by 4% to $1,591. The average price paid for a co-op ticked up 5% to $1.17M so far this quarter. Stay tuned for CityRealty's Q2 market report in July for a more final analysis. In the meantime, find below Manhattan's best-selling buildings so far this year, ranked by aggregate sales recorded during the first five months of 2021.









(Credit: Tim Fisher)



Photo by Michael Kleinberg


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