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Market Reports & Research

September Monthly Market Report CityRealty's October 2017 market report includes all public records data available through September 30, 2017 for deeds recorded the prior month.
CityRealty's monthly rundown of the Manhattan residential real estate market.
Average Sales Price
The average sales price of a Manhattan apartment remained unchanged in the four weeks leading up to September 1, while the number of sales shot up. The average price for an apartment—taking into account both condo and co-op sales—was $2.1 million, as it had been the prior month. The number of recorded sales, 1,264, represented a large increase from the 948 recorded in the preceding month.The average sales price of a Manhattan apartment remained unchanged in the four weeks leading up to September 1, while the number of sales shot up. The average price for an apartment—taking into account both condo and co-op sales—was $2.1 million, as it had been the prior month. The number of recorded sales, 1,264, represented a large increase from the 948 recorded in the preceding month.
Condos and Co-ops Breakdown
The average price of a condo was $2.9 million and the average price of a co-op was $1.4 million. There were 562 condo sales and 702 co-op sales.
Sales by Neighborhood
30-Day Total Sales by Region

Downtown was the highest-grossing region in Manhattan, with $725 million in condominium sales. Midtown was the second highest-grossing area, with $307 million in sales. Downtown also had the highest price/ft2, $2,295/ft2, while Midtown had the second-highest, $1,721/ft2.

NEW DEVELOPMENTS VS ALL OTHER CONDOS:

New Developments vs Other Condos
New development condo prices averaged $2,084/ft2 this month this month, compared to $1,793/ft2 for non-new development condominium sales. The average price, $4.3 million, was down this month from $3.9 million the prior month. There were 124 new development sales this month, up from the 106 recorded in the prior month. The price/ft2 of new apartments was 25% lower than it was a year ago, when it was $2,615/ft2, and virtually unchanged from last month, when it was $2,074/ft2. The aggregate sales total of new developments was $527 million.
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