Manhattan closed sales increased 2% year-over-year in 2Q17, while contracts signed decreased 8%. Median and average sale prices reached record highs of $1.193M and $2.163M respectively, up 8% and 7% from 2Q16. Inventory was nearly flat compared to last year, leading to a 11% rise in months of supply. Studio apartments saw the only decrease in average days on market, down 4% to 79 days on average, while other bedroom types increased over 25% in days on market.
Brooklyn housing demand remained strong in the second quarter of 2016, with closed sales 9% above the five-year quarterly average. However, closed sales were down 17% from the previous year, which had set a record. Limited inventory, especially for lower-priced properties, contributed to record-high median home prices of $600,000 for the quarter, up 8% from the prior year. New development sales were level with the previous year and made up 19% of the market.
Second Quarter 2016 Manhattan real estate report:
- Closed sales decreased 14% year-over-year while inventory increased 11%, leading to a longer average time on the market of 97 days, up from 92 days last year.
- Median sale price reached a record high of $1.15 million, up 18% from a year ago, while the average price dropped 6% from last quarter to $1.99 million.
- Inventory grew across most bedroom types, with a 27% increase for two-bedrooms, contributing to a rise in months of supply to 5.3 months overall.
January 2015 RICS UK Residential Market SurveyRICS
The document provides details on the RICS Residential Market Survey for January 2015. It includes net balance data on house prices, sales, new buyer inquiries, new vendor instructions, and agreed sales over the last month and coming months. It also provides levels data on average stock and sales per surveyor over the last 3 months. The document summarizes the key findings from the survey for different regions of the UK and notes continued strength in Northern Ireland and Scotland compared to other areas.
Despite rising multifamily construction starts, the current stock of rental units is struggling to meet demand in some areas. This problem is particularly acute for affordable and workforce housing. High construction costs driven by rising land and material prices are inhibiting new supply, especially of more affordable units. Most new multifamily projects consist of high-end apartments, exacerbating the shortage of affordable rentals. To make projects profitable given high costs, developers have focused on acquiring premium sites and pricing new units at the higher end of the market. This concentration of high-cost units in large cities further squeezes the supply of affordable housing.
Product Brochure: Top 5 Country B2C E-Commerce Sales Forecasts: 2017 to 2021yStats.com
Product Brochure with summarized information of our publication " Top 5 Country B2C E-Commerce Sales Forecasts: 2017 to 2021".
Find more here: https://www.ystats.com/market-reports/top-5-country-b2c-e-commerce-sales-forecasts-2017-to-2021/
February Phoenix East Valley Real Estate Market ReportLen Nevin
The real estate market in Phoenix is shifting towards a buyer's market. Active listings have risen 45.9% from the previous year, while pending listings and monthly sales have declined sharply. If current trends continue, sellers will face more concessions and lower prices by the end of 2014 due to increased supply and decreased demand. The report provides detailed statistics on housing market trends in specific Phoenix metropolitan areas.
TORONTO REGIONAL REAL ESTATE BOARD'S - MARKET WATCH - FOR AUGUEST 2021Shawn Venasse
This is the monthly stats report on all sales and listings within the MLS system run by the Toronto real estate board. This is the definitive AUGUST 2021 sales guide.
The document summarizes commercial real estate market conditions in Greater Boston during the third quarter of 2010. Key points include:
- The economy officially ended its recession in mid-2009 but employment levels did not bottom out until late 2009, leading to a sluggish recovery. Unemployment rates remained high across the US and in Massachusetts.
- In Greater Boston, net absorption improved from negative levels a year ago but availability rates remained elevated, suggesting the market is still recovering. Rents declined from a year ago but appeared stable in recent quarters.
- The Boston, Cambridge, and suburban office markets all showed signs of stabilization compared to a year ago, with declining availability and positive but modest absorption. Rents declined
Brooklyn housing demand remained strong in the second quarter of 2016, with closed sales 9% above the five-year quarterly average. However, closed sales were down 17% from the previous year, which had set a record. Limited inventory, especially for lower-priced properties, contributed to record-high median home prices of $600,000 for the quarter, up 8% from the prior year. New development sales were level with the previous year and made up 19% of the market.
Second Quarter 2016 Manhattan real estate report:
- Closed sales decreased 14% year-over-year while inventory increased 11%, leading to a longer average time on the market of 97 days, up from 92 days last year.
- Median sale price reached a record high of $1.15 million, up 18% from a year ago, while the average price dropped 6% from last quarter to $1.99 million.
- Inventory grew across most bedroom types, with a 27% increase for two-bedrooms, contributing to a rise in months of supply to 5.3 months overall.
January 2015 RICS UK Residential Market SurveyRICS
The document provides details on the RICS Residential Market Survey for January 2015. It includes net balance data on house prices, sales, new buyer inquiries, new vendor instructions, and agreed sales over the last month and coming months. It also provides levels data on average stock and sales per surveyor over the last 3 months. The document summarizes the key findings from the survey for different regions of the UK and notes continued strength in Northern Ireland and Scotland compared to other areas.
Despite rising multifamily construction starts, the current stock of rental units is struggling to meet demand in some areas. This problem is particularly acute for affordable and workforce housing. High construction costs driven by rising land and material prices are inhibiting new supply, especially of more affordable units. Most new multifamily projects consist of high-end apartments, exacerbating the shortage of affordable rentals. To make projects profitable given high costs, developers have focused on acquiring premium sites and pricing new units at the higher end of the market. This concentration of high-cost units in large cities further squeezes the supply of affordable housing.
Product Brochure: Top 5 Country B2C E-Commerce Sales Forecasts: 2017 to 2021yStats.com
Product Brochure with summarized information of our publication " Top 5 Country B2C E-Commerce Sales Forecasts: 2017 to 2021".
Find more here: https://www.ystats.com/market-reports/top-5-country-b2c-e-commerce-sales-forecasts-2017-to-2021/
February Phoenix East Valley Real Estate Market ReportLen Nevin
The real estate market in Phoenix is shifting towards a buyer's market. Active listings have risen 45.9% from the previous year, while pending listings and monthly sales have declined sharply. If current trends continue, sellers will face more concessions and lower prices by the end of 2014 due to increased supply and decreased demand. The report provides detailed statistics on housing market trends in specific Phoenix metropolitan areas.
TORONTO REGIONAL REAL ESTATE BOARD'S - MARKET WATCH - FOR AUGUEST 2021Shawn Venasse
This is the monthly stats report on all sales and listings within the MLS system run by the Toronto real estate board. This is the definitive AUGUST 2021 sales guide.
The document summarizes commercial real estate market conditions in Greater Boston during the third quarter of 2010. Key points include:
- The economy officially ended its recession in mid-2009 but employment levels did not bottom out until late 2009, leading to a sluggish recovery. Unemployment rates remained high across the US and in Massachusetts.
- In Greater Boston, net absorption improved from negative levels a year ago but availability rates remained elevated, suggesting the market is still recovering. Rents declined from a year ago but appeared stable in recent quarters.
- The Boston, Cambridge, and suburban office markets all showed signs of stabilization compared to a year ago, with declining availability and positive but modest absorption. Rents declined
U.S. House Prices Rose 1.9 Percent in First Quarter 2013Wealth Partners
U.S. house prices rose 1.9% in the first quarter of 2013 according to the FHFA House Price Index. This marks the seventh consecutive quarter of house price increases. While the housing market has stabilized in many areas, foreclosures and labor market weakness are still hindering stronger recovery. House prices were up 6.7% from the first quarter of 2012. The Pacific region saw the strongest price increase this quarter at 4.4%, while the Middle Atlantic region saw the smallest rise of 0.3%.
Mercer Capital's Value Focus: Real Estate Industry | Q1 2016 | Segment Focus:...Mercer Capital
Mercer Capital's Real Estate Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
The Houston industrial market saw 13 million square feet of new inventory added in 2019. Vacancy rates increased to 6.9% in the fourth quarter, though net absorption remained positive at 2.4 million square feet. Demand continues to be driven by logistics, distribution, and e-commerce users, though an oversupply of spec construction may challenge landlords in some submarkets. Overall, the Houston industrial market had a solid year with healthy absorption and job growth.
The document discusses the Toronto real estate market in May 2017. It summarizes that after a period of frenzied buying and rapidly increasing prices, the market has begun to cool down with more listings coming on the market and some buyers pausing or waiting to see how a new foreign buyers tax will impact prices. While the basic market drivers of low interest rates, strong economy, and demand remain, prices are expected to stabilize rather than continue increasing at the unsustainable rates seen earlier in the year, putting buyers in a better negotiating position. The author, a real estate agent, offers to provide advice on how buyers could benefit from the current situation.
The office supply-demand imbalance in Houston is expected to continue for at least the next 12 months due to ongoing low oil prices, additional sublease space availability, and sustained construction deliveries. The author notes that overall asking rent fell 1.1% this quarter while availability increased 0.8 percentage points as demand remains weak.
Continued economic and job growth is driving occupancy and rent growth in the San Diego office market. Vacancy fell to 15.1% in Q3 2016, the lowest in nine years. Absorption was positive across the North, Central, and South regions in Q3. Growth is expected to continue into 2017 due to forecasted increases in employment, especially in healthcare. New leasing activity and pre-leasing of under construction space will boost future absorption. Emerging trends include demand for amenity-rich spaces appealing to Millennials and increased co-working activity.
Tuol Kouk, Sen Sok Market review - Vtrust Appraisal - EnglishHoem Seiha
Sen Sok district (Khan in Khmer) has experienced a rapid
growth, especially in term of residential, commercial, and infrastructure developments. Thus, land prices in the whole district increased markedly within the last couple of years. By the end of 2013, average market price of land in Sen Sok was US$380 per sqm. In the first half of 2016, average market price in the district rose to US$690 per sqm, with average growth of 27 percent y-o-y from 2013 to 2015. Nevertheless, land market prices across Sen Sok district have stagnated since the beginning of 2016, making Q1-to-Q2 2016 list price ratio to drop to 99 percent, though minimally, as property sellers were testing the market at which a reasonable market price should be met.
Tuol Kouk district, on the other hand, experienced a slight rise in land price within the same period, from average market price of US$2,150 per sqm in 2013 to US$ 2,530 per sqm in early 2016, growing at 6 percent y-o-y within the tracked period. However, across Tuol Kouk district, Q1-to-Q2 2016 list price ratio dropped to 99 percent due to real estate market stagnancy since the start of this year.
In sum, these two districts both of which lie northwest of the
central Phnom Penh have enjoyed a rapid growth in term of residential and commercial developments. The suburban Sen Sok district, for example, has witnessed a noticeable pace of developments, especially mixed-use landed housing and infrastructure, which gives rise to a change in the skyline and rapid surge in land prices over the course of the previous three years. This growth will continue its pace as developers foresee market optimism over the next coming years.
Chrouy changva land market review Vtrust Appraisal - EnglishHoem Seiha
Chrouy Changva peninsula has witnessed a surge in land prices thanks largely to the completion of the second Chrouy Changva Bridge and the Kingdom‟s largest Sokha Phnom Penh Hotel along with some other mid-rise devel-opments such as Bellevue Apartment, Yellow Tower, and three of the Mekong Apartments, just to name a few. The peninsula satellite city project known as “City of the Fu-ture”, which was mapped out five years ago, and the recent kickoffs of high-rise condominium projects such as the Bay and La Vie Residences have also pushed land prices in the areas to skyrocket in recent years.
A recent survey by VTrust Appraisal indicates that the av-erage growth of land prices in Chrouy Changva district (khan in Khmer), which mainly covers the peninsula, hov-ers at 20 percent year-on-year, with the average price of the fastest growing zone in Chrouy Changva commune (sangkat in Khmer) standing at US$1,080 per sqm in the second half of 2015 as compared to US$670 per sqm in the same period of 2013.
Despite the rapid growth in land prices in Chrouy Changva peninsula, the neighboring district of Ruessei Kaev, located west and opposite Tonle Sap River, has experienced only a slight jump for land prices within these two years, on aver-age hovering at 8 percent year-on-year.
With some of the signs marked today, Chrouy Changva peninsula has quickly attracted the population and will continue to witness a rapid surge in land prices, especially driven by major residential and mixed-use developments, both complete and recently announced, and the peninsula city master plans mapped out by OCIC and L.Y.P Group.
The Vacancy Factor Index for Q2 2016 came in at 72% for June, indicating a marginal rise in vacant properties in high-end neighborhoods of Lagos. The rise was expected given GDP contraction and high rental defaults. Vacancy rates were highest in Lekki, which also has the most developments but few uncompleted projects. Victoria Island had the lowest vacancy due to mixed commercial and residential use. Declines in the index are only expected when GDP and business conditions improve to boost demand.
The document provides an overview and analysis of the Brooklyn residential real estate market in the third quarter of 2016. Some key points:
- Closed sales were down 19% year-over-year but on par with the five-year average, while new development fared better than resales.
- Inventory increased 7% from a year ago driven by growth in new development and resale condo listings.
- Prices continued to rise significantly, with the median price reaching an eight-year high of $675,000, average price up 27%, and average price per square foot at a record $950.
- Days on market increased slightly but remained below historical averages, indicating the market remains competitive for buyers
Seiha Macro Perspectives of Real Estate Industry and Outlooks 2016Hoem Seiha
Notably, during the first quarter of 2016 the Kingdom attracted 473 investment projects in the construction sector worth of in total US$1.6 billion, showing an increase of 257.51 percent compared with the same period last year. In 2015, construction investment values grew by 33 percent y-o-y if compared to 2014, with most investments were injected into condominiums and commercial complexes.
Confidence spreads throughout regional Queensland - check out all the latest trends and data for all the property markets across Queensland.
Brought to you by the REIQ and National Property Buyers.
http://www.nationalpropertybuyers.com.au
This document provides a summary of the housing market outlook for Edmonton, Canada. It finds that total housing starts will decrease in 2016 and 2017 after increasing in 2015. Specifically, single-detached housing starts will decline in 2015-2016 and rise modestly in 2017, while multi-family starts will rise in 2015 before falling in 2016-2017. MLS home sales are projected to decrease in 2015 before posting small gains in 2016-2017. The apartment vacancy rate is expected to rise over the forecast period as supply outpaces demand.
Ruessei Kaev Housing Market and Outlook Report 2016Hoem Seiha
Ruessei Kaev’s landed housing market grew remarkably within the preceding five-year period from 2012 to 2016, with an average of 1,600 new housing units launched into the market each year. Well over 2,800 units were completed in 2016, and it is projected that well over 3,000 additional units will be finished off and ready for prospective occupants by 2017.
Fortunately, only 14 percent of the launched units are awaiting total completion recorded as of today, whereas 17 percent are still listed on the market inventory. In sum, albeit a slight market slowdown since the end of 2015, housing market stimuli initiated by developers has come to ignite the demand engine again, giving rise to a ‘slightly’ positive trend expected to continue over the course of 2017.
Pou Senchey, since the last decade, has seen a rapid pace of development, especially in the realm of residential, commercial, and industrial sub-sectors, leading to a considerable land price surge across the district. Observed within the period of the past three years, the district experienced an average annual growth of 31 percent in land prices, from US$110 p.sqm. in 2013, when averaged across the whole district, to US$170 p.sqm. in Q3 2016. Within those three years, 2014 and 2015 marked the strongest growth for land prices, yet during the course of three quarters of 2016 the prices were sluggish to move upward due to the situation that overall real estate market has cooled down steadily since late 2015.
U.S. apartment rents rose 0.9% in June according to a survey, marking the third straight month of double-digit gains. Rents were up 2.7% in the second quarter and 5.6% year-over-year. The national average rent reached a new high of $1,213. Rent growth has been led by West Coast markets like San Francisco, Sacramento, and Seattle, though some Northeast and Mid-Atlantic markets showed strengthening as well in the latest period. Occupancy remained strong at 96.1% nationally for the third month in a row.
Ruessei Kaev Housing Market and Outlook Report 2016 PresentationHoem Seiha
This document is a housing market and outlook report for 2016 in Ruessei Kaev district of Phnom Penh, Cambodia authored by Mr. Hoem Seiha of Vtrust Appraisal Co. It summarizes that as of 2016, Ruessei Kaev district had a cumulative housing supply of 12,200 units, with 86% complete. The largest share of units were in Borey Vimean Phnom Penh project. The report also analyzes housing development, prices, and forecasts continued strong growth in the district through the coming decade due to supporting infrastructure.
latest edition of Queensland Market Monitor - a quarterly report presenting suburb-by-suburb residential sales and rental data for the state. This report includes median house and unit price data, rental research and on-the-market statistics – everything you need to know about Queensland real estate, in one report
Investment Outlook for Commercial Real Estate June 2015Lewei He
Foreign capital flows into US commercial real estate reached a record high in the first quarter of 2015, surpassing the previous record set in 2007. While job growth has slowed, real estate fundamentals remain healthy overall. Apartment prices and cap rates have continued to rise and compress, though some markets may have peaked in occupancy and rents. Industrial indicators point to moderate expansion in 2015, while trends in online retail will impact demand for warehouses and distribution facilities. Office absorption was lower than completions in the first quarter after being higher in previous years, and certain markets like Houston face rising vacancy risks if oil prices remain low. Retail sales volume was unchanged from a year ago despite challenges from online shopping that are transforming the sector.
The document provides a summary of housing market conditions across Queensland in the March quarter of 2016. It finds that house prices declined in many regional areas such as Cairns, Townsville, and Rockhampton in the March quarter, while Brisbane experienced a smaller decline. Looking at annual figures, house prices have risen in Brisbane, the Gold Coast, Toowoomba, Sunshine Coast, Fraser Coast and Cairns over the past 12 months. The rental market is declining most sharply in regional areas like Gladstone, Mackay and Townsville that are experiencing weaker economic conditions.
New york city investment hon sing (kevin) tsun citi habitatsHon Sing Tsun
The document discusses the Manhattan residential real estate market and an opportunity within. It summarizes as:
1) A rare opportunity exists to purchase a property developed by renowned architects Robert Stern and Zeckendorf Development, whose previous joint projects significantly increased in value.
2) The licensed real estate agent, Hon Sing Tsun of Citi Habitats, urges contacting him about this opportunity to potentially profit from the increase in value like past Stern and Zeckendorf projects.
3) Purchasing early could allow participating in the property's expected rise in price due to the prestigious developers involved.
Mercer Capital's Value Focus: Real Estate Industry | Q1 2017 | Segment Focus:...Mercer Capital
Mercer Capital's Real Estate Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
U.S. House Prices Rose 1.9 Percent in First Quarter 2013Wealth Partners
U.S. house prices rose 1.9% in the first quarter of 2013 according to the FHFA House Price Index. This marks the seventh consecutive quarter of house price increases. While the housing market has stabilized in many areas, foreclosures and labor market weakness are still hindering stronger recovery. House prices were up 6.7% from the first quarter of 2012. The Pacific region saw the strongest price increase this quarter at 4.4%, while the Middle Atlantic region saw the smallest rise of 0.3%.
Mercer Capital's Value Focus: Real Estate Industry | Q1 2016 | Segment Focus:...Mercer Capital
Mercer Capital's Real Estate Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
The Houston industrial market saw 13 million square feet of new inventory added in 2019. Vacancy rates increased to 6.9% in the fourth quarter, though net absorption remained positive at 2.4 million square feet. Demand continues to be driven by logistics, distribution, and e-commerce users, though an oversupply of spec construction may challenge landlords in some submarkets. Overall, the Houston industrial market had a solid year with healthy absorption and job growth.
The document discusses the Toronto real estate market in May 2017. It summarizes that after a period of frenzied buying and rapidly increasing prices, the market has begun to cool down with more listings coming on the market and some buyers pausing or waiting to see how a new foreign buyers tax will impact prices. While the basic market drivers of low interest rates, strong economy, and demand remain, prices are expected to stabilize rather than continue increasing at the unsustainable rates seen earlier in the year, putting buyers in a better negotiating position. The author, a real estate agent, offers to provide advice on how buyers could benefit from the current situation.
The office supply-demand imbalance in Houston is expected to continue for at least the next 12 months due to ongoing low oil prices, additional sublease space availability, and sustained construction deliveries. The author notes that overall asking rent fell 1.1% this quarter while availability increased 0.8 percentage points as demand remains weak.
Continued economic and job growth is driving occupancy and rent growth in the San Diego office market. Vacancy fell to 15.1% in Q3 2016, the lowest in nine years. Absorption was positive across the North, Central, and South regions in Q3. Growth is expected to continue into 2017 due to forecasted increases in employment, especially in healthcare. New leasing activity and pre-leasing of under construction space will boost future absorption. Emerging trends include demand for amenity-rich spaces appealing to Millennials and increased co-working activity.
Tuol Kouk, Sen Sok Market review - Vtrust Appraisal - EnglishHoem Seiha
Sen Sok district (Khan in Khmer) has experienced a rapid
growth, especially in term of residential, commercial, and infrastructure developments. Thus, land prices in the whole district increased markedly within the last couple of years. By the end of 2013, average market price of land in Sen Sok was US$380 per sqm. In the first half of 2016, average market price in the district rose to US$690 per sqm, with average growth of 27 percent y-o-y from 2013 to 2015. Nevertheless, land market prices across Sen Sok district have stagnated since the beginning of 2016, making Q1-to-Q2 2016 list price ratio to drop to 99 percent, though minimally, as property sellers were testing the market at which a reasonable market price should be met.
Tuol Kouk district, on the other hand, experienced a slight rise in land price within the same period, from average market price of US$2,150 per sqm in 2013 to US$ 2,530 per sqm in early 2016, growing at 6 percent y-o-y within the tracked period. However, across Tuol Kouk district, Q1-to-Q2 2016 list price ratio dropped to 99 percent due to real estate market stagnancy since the start of this year.
In sum, these two districts both of which lie northwest of the
central Phnom Penh have enjoyed a rapid growth in term of residential and commercial developments. The suburban Sen Sok district, for example, has witnessed a noticeable pace of developments, especially mixed-use landed housing and infrastructure, which gives rise to a change in the skyline and rapid surge in land prices over the course of the previous three years. This growth will continue its pace as developers foresee market optimism over the next coming years.
Chrouy changva land market review Vtrust Appraisal - EnglishHoem Seiha
Chrouy Changva peninsula has witnessed a surge in land prices thanks largely to the completion of the second Chrouy Changva Bridge and the Kingdom‟s largest Sokha Phnom Penh Hotel along with some other mid-rise devel-opments such as Bellevue Apartment, Yellow Tower, and three of the Mekong Apartments, just to name a few. The peninsula satellite city project known as “City of the Fu-ture”, which was mapped out five years ago, and the recent kickoffs of high-rise condominium projects such as the Bay and La Vie Residences have also pushed land prices in the areas to skyrocket in recent years.
A recent survey by VTrust Appraisal indicates that the av-erage growth of land prices in Chrouy Changva district (khan in Khmer), which mainly covers the peninsula, hov-ers at 20 percent year-on-year, with the average price of the fastest growing zone in Chrouy Changva commune (sangkat in Khmer) standing at US$1,080 per sqm in the second half of 2015 as compared to US$670 per sqm in the same period of 2013.
Despite the rapid growth in land prices in Chrouy Changva peninsula, the neighboring district of Ruessei Kaev, located west and opposite Tonle Sap River, has experienced only a slight jump for land prices within these two years, on aver-age hovering at 8 percent year-on-year.
With some of the signs marked today, Chrouy Changva peninsula has quickly attracted the population and will continue to witness a rapid surge in land prices, especially driven by major residential and mixed-use developments, both complete and recently announced, and the peninsula city master plans mapped out by OCIC and L.Y.P Group.
The Vacancy Factor Index for Q2 2016 came in at 72% for June, indicating a marginal rise in vacant properties in high-end neighborhoods of Lagos. The rise was expected given GDP contraction and high rental defaults. Vacancy rates were highest in Lekki, which also has the most developments but few uncompleted projects. Victoria Island had the lowest vacancy due to mixed commercial and residential use. Declines in the index are only expected when GDP and business conditions improve to boost demand.
The document provides an overview and analysis of the Brooklyn residential real estate market in the third quarter of 2016. Some key points:
- Closed sales were down 19% year-over-year but on par with the five-year average, while new development fared better than resales.
- Inventory increased 7% from a year ago driven by growth in new development and resale condo listings.
- Prices continued to rise significantly, with the median price reaching an eight-year high of $675,000, average price up 27%, and average price per square foot at a record $950.
- Days on market increased slightly but remained below historical averages, indicating the market remains competitive for buyers
Seiha Macro Perspectives of Real Estate Industry and Outlooks 2016Hoem Seiha
Notably, during the first quarter of 2016 the Kingdom attracted 473 investment projects in the construction sector worth of in total US$1.6 billion, showing an increase of 257.51 percent compared with the same period last year. In 2015, construction investment values grew by 33 percent y-o-y if compared to 2014, with most investments were injected into condominiums and commercial complexes.
Confidence spreads throughout regional Queensland - check out all the latest trends and data for all the property markets across Queensland.
Brought to you by the REIQ and National Property Buyers.
http://www.nationalpropertybuyers.com.au
This document provides a summary of the housing market outlook for Edmonton, Canada. It finds that total housing starts will decrease in 2016 and 2017 after increasing in 2015. Specifically, single-detached housing starts will decline in 2015-2016 and rise modestly in 2017, while multi-family starts will rise in 2015 before falling in 2016-2017. MLS home sales are projected to decrease in 2015 before posting small gains in 2016-2017. The apartment vacancy rate is expected to rise over the forecast period as supply outpaces demand.
Ruessei Kaev Housing Market and Outlook Report 2016Hoem Seiha
Ruessei Kaev’s landed housing market grew remarkably within the preceding five-year period from 2012 to 2016, with an average of 1,600 new housing units launched into the market each year. Well over 2,800 units were completed in 2016, and it is projected that well over 3,000 additional units will be finished off and ready for prospective occupants by 2017.
Fortunately, only 14 percent of the launched units are awaiting total completion recorded as of today, whereas 17 percent are still listed on the market inventory. In sum, albeit a slight market slowdown since the end of 2015, housing market stimuli initiated by developers has come to ignite the demand engine again, giving rise to a ‘slightly’ positive trend expected to continue over the course of 2017.
Pou Senchey, since the last decade, has seen a rapid pace of development, especially in the realm of residential, commercial, and industrial sub-sectors, leading to a considerable land price surge across the district. Observed within the period of the past three years, the district experienced an average annual growth of 31 percent in land prices, from US$110 p.sqm. in 2013, when averaged across the whole district, to US$170 p.sqm. in Q3 2016. Within those three years, 2014 and 2015 marked the strongest growth for land prices, yet during the course of three quarters of 2016 the prices were sluggish to move upward due to the situation that overall real estate market has cooled down steadily since late 2015.
U.S. apartment rents rose 0.9% in June according to a survey, marking the third straight month of double-digit gains. Rents were up 2.7% in the second quarter and 5.6% year-over-year. The national average rent reached a new high of $1,213. Rent growth has been led by West Coast markets like San Francisco, Sacramento, and Seattle, though some Northeast and Mid-Atlantic markets showed strengthening as well in the latest period. Occupancy remained strong at 96.1% nationally for the third month in a row.
Ruessei Kaev Housing Market and Outlook Report 2016 PresentationHoem Seiha
This document is a housing market and outlook report for 2016 in Ruessei Kaev district of Phnom Penh, Cambodia authored by Mr. Hoem Seiha of Vtrust Appraisal Co. It summarizes that as of 2016, Ruessei Kaev district had a cumulative housing supply of 12,200 units, with 86% complete. The largest share of units were in Borey Vimean Phnom Penh project. The report also analyzes housing development, prices, and forecasts continued strong growth in the district through the coming decade due to supporting infrastructure.
latest edition of Queensland Market Monitor - a quarterly report presenting suburb-by-suburb residential sales and rental data for the state. This report includes median house and unit price data, rental research and on-the-market statistics – everything you need to know about Queensland real estate, in one report
Investment Outlook for Commercial Real Estate June 2015Lewei He
Foreign capital flows into US commercial real estate reached a record high in the first quarter of 2015, surpassing the previous record set in 2007. While job growth has slowed, real estate fundamentals remain healthy overall. Apartment prices and cap rates have continued to rise and compress, though some markets may have peaked in occupancy and rents. Industrial indicators point to moderate expansion in 2015, while trends in online retail will impact demand for warehouses and distribution facilities. Office absorption was lower than completions in the first quarter after being higher in previous years, and certain markets like Houston face rising vacancy risks if oil prices remain low. Retail sales volume was unchanged from a year ago despite challenges from online shopping that are transforming the sector.
The document provides a summary of housing market conditions across Queensland in the March quarter of 2016. It finds that house prices declined in many regional areas such as Cairns, Townsville, and Rockhampton in the March quarter, while Brisbane experienced a smaller decline. Looking at annual figures, house prices have risen in Brisbane, the Gold Coast, Toowoomba, Sunshine Coast, Fraser Coast and Cairns over the past 12 months. The rental market is declining most sharply in regional areas like Gladstone, Mackay and Townsville that are experiencing weaker economic conditions.
New york city investment hon sing (kevin) tsun citi habitatsHon Sing Tsun
The document discusses the Manhattan residential real estate market and an opportunity within. It summarizes as:
1) A rare opportunity exists to purchase a property developed by renowned architects Robert Stern and Zeckendorf Development, whose previous joint projects significantly increased in value.
2) The licensed real estate agent, Hon Sing Tsun of Citi Habitats, urges contacting him about this opportunity to potentially profit from the increase in value like past Stern and Zeckendorf projects.
3) Purchasing early could allow participating in the property's expected rise in price due to the prestigious developers involved.
Mercer Capital's Value Focus: Real Estate Industry | Q1 2017 | Segment Focus:...Mercer Capital
Mercer Capital's Real Estate Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
Housing market assessment greater toronto area - 1 st quarter 2017Shawn Venasse
Recent analysis of the Toronto housing market found:
1) Strong evidence of overvaluation, with home prices growing much faster than incomes and population growth.
2) Moderate evidence of overheating and price acceleration, as sales remained high while new listings only kept pace with demand.
3) Weak evidence of overbuilding, as unsold inventory continued to decline in the third quarter of 2016.
Building Products and Materials Industry Insights - Q3 2017Duff & Phelps
The housing market remained strong in 1H 2017 as sales of new and existing homes reached their highest annual pace since 2007. A healthy economy, strong consumer confidence levels and low mortgage rates are driving buyer demand. While housing starts were up 3.9% in 1H 2017, the inventory of new and existing homes remained relatively unchanged from year end and both remain well below what is deemed a normal supply level of six months. The combination of low supply and strong buyer demand are pushing home prices to record highs. M&A activity continued at a brisk pace in 1H 2017; however, the number of transactions was down from 2H 2016, which recorded the highest level of M&A activity since the recession. Read the report for more detail on housing trends, public market performance and deal activity.
Mercer Capital's Value Focus: Real Estate Industry | Q2 2018 | Segment Focus:...Mercer Capital
Mercer Capital's Real Estate Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes a macroeconomic trends, industry trends, and guideline public company metrics.
This document provides information about an investment opportunity involving properties designed by renowned architect Robert Stern and developed by Zeckendorf Development. It notes that similar past projects by these parties saw property prices quadruple, presenting a rare chance to profit. The contact information provided is for Kevin Tsun of Citi Habitats, who can provide additional details about purchasing units in this project.
Mercer Capital's Value Focus: Real Estate Industry | Q1 2018 | Segment Focus:...Mercer Capital
Mercer Capital's Real Estate Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
The San Francisco real estate market was very slow in
January, picked up a bit in February, and then took off
in March. It appears that this upward trend will carry into the
second quarter of 2017. Already in the first couple weeks
of April we’re seeing an acceleration in activity.
In the first quarter of 2016, Manhattan's residential real estate market saw record high prices but a drop in sales and signed contracts compared to the previous year. While inventory increased 8% year-over-year due to a jump in resale condo listings, average days on market dropped 15% as buyers moved quickly. Prices rose across the board, with the median Manhattan sale price reaching a new high of $1.16 million, up 22% from the first quarter of 2015.
The Manhattan residential real estate market saw mixed indicators in the first quarter of 2016. Closed sales decreased 5% year-over-year while inventory increased 8% due to a jump in resale condo listings. This caused months of supply to rise 14% while average days on market dropped 15% year-over-year. Prices hit new record highs, with the median sale price reaching $1.16 million, up 22% from a year ago, and the average sale price surpassing $2 million for the first time.
Commercial Real Estate Market Trends - 2017cutmytaxes
The document summarizes commercial real estate market trends for the first quarter of 2017 according to a survey by the National Association of REALTORS. Key points include:
- Sales volume declined 4.4% year-over-year while prices rose 7.2%, indicating a tight market.
- Inventory shortage remained the top challenge.
- Leasing volume rose 2.3% quarter-over-quarter while rates increased 3.8% and concessions fell 11.1%.
- Financing availability returned as a top concern.
TRREB reported 4,581 home sales in January 2020 – up by 15.4 per cent compared to January 2019 and up by 4.8 per cent compared to December 2019.
“Steady population growth, low unemployment and low borrowing costs continued to underpin substantial competition between buyers in all major market segments,” said TRREB President Michael Collins.
The average selling price in January was up by 12.3 per cent, driven by the detached houses & condominium apartments.
The purpose of this presentation is to provide an overview of the U.S. residential housing market for the second quarter of 2018. An overview of the State of the Nation's Housing by the Joint Center for Housing Studies of Harvard University is covered in this presentation.
TORONTO REGIONAL REAL ESTATE BOARD's JUNE 2020 MARKET WATCH REPORTShawn Venasse
The GTA housing market saw strong recovery in June 2020 with home sales up 84% from May and average home prices rising 11.9% year-over-year. Detached and townhouse segments outside of Toronto saw particularly strong year-over-year growth in sales and prices. While new listings rose slightly, total active listings remained down 28.8% from a year ago due to strong demand, pointing to ongoing supply constraints in the market.
TREB RELEASES CONDO MARKET FIGURES AS REPORTED BY GTA REALTORS®
TORONTO, January 28, 2018 -- Toronto Real Estate Board President Garry Bhaura announced that Greater Toronto Area REALTORS® reported 5,191 condominium apartment sales through TREB's MLS® System in the fourth quarter of 2018. This result was down by 9.9 per cent compared to the last three months of 2017.
New condominium apartment listings entered into TREB's MLS® System were down by more than sales on a year-over-year basis – dropping 11.2 per cent from 8,186 in Q4 2017 to 7,272 in Q4 2018. This points to tighter market conditions at the end of 2018 compared to year-end 2017.
"The condominium apartment segment was the best-performing segment in terms of annual average rates of price growth in 2018. Condos represent a relatively affordable housing option. With a substantial decrease in listings in 2018, competition between intending buyers remained strong. This supported average price growth well-above the rate of inflation and annual rates of price growth reported for other ground-oriented home types," said Mr. Bhaura.
The average price of a condominium apartment increased by 8.3 per cent from $516,086 in Q4 2017 to $558,728 in Q4 2018. Year-over-year price growth in the City of Toronto, which accounted for 72 per cent of transactions, was slightly higher at 8.9 per cent resulting in an average price of $598,664.
"The condominium apartment segment continued to be a key entry point into the GTA home ownership market in 2018. Higher mortgage qualification standards meant that many first-time buyers were looking for more affordable housing options. Moving forward, the concern is that a continued lack of listings supply, despite relatively strong new condo completions as of late, will hamper the ability of potential home buyers to meet their housing needs," said Jason Mercer, TREB's Director of Market Analysis.
As of the 4th quarter 2017 FNB Estate Agent Survey in November, agents had not yet perceived any strengthening in the South African housing market according to the survey questions. Housing demand had moved sideways at low levels since 2016, while the prevailing demand levels were insufficient to balance supply, leading to a weakening market balance through 2017. However, sentiment in the country improved after the ruling party's December leadership conference, and leading economic indicators point to improved near-term economic performance, suggesting the housing market could see some strengthening in 2018 according to the report.
Mercer Capital's Value Focus: Real Estate Industry | Q3 2016 | Segment Focus:...Mercer Capital
Mercer Capital's Real Estate Industry newsletter provides perspective on valuation issues. Each newsletter also typically includes macroeconomic trends, industry trends, and guideline public company metrics.
- Toronto Real Estate Board President Tim Syrianos announced residential MLS sales, listings, and price statistics for June 2017, as well as an updated mid-year forecast and results from an Ipsos consumer survey on home buying and selling intentions.
- June 2017 saw 7,974 home sales, down 37.3% from June 2016, while new listings rose 15.9% to 19,614. The average selling price increased 6.3% to $793,915.
- The Ipsos survey found 30% of GTA households were likely to list their home for sale in the next year, while 35% intended to purchase, similar to fall 2016 levels.
Building Products and Materials Industry Insights-Q1 2018Duff & Phelps
Robust sale activity drove supply of existing homes to a 17-year low and prices to a record high. Sales of new and existing homes reached their highest annual pace since 2007 due to a combination of low mortgage rates, rising wages, steady job growth and high consumer confidence. Read more..
Similar to Q2 2017 Manhattan Quarterly Report (20)
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
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2. Contents
The following members of the The Corcoran Group made significant contributions to this report:
Kristy Hoffman I Geoffrey Martell I Madison Rosenwald I Ryan Schleis
4/7 Market Wide
4 Sales / Days on Market
5 Inventory / Months of Supply
6 Prices
7 Market Share
12/13 East Side
14/15 West Side
16/17 Midtown
18/19 Downtown
20/21 Financial District Battery Park City
22/23 Upper Manhattan
Neighborhoods12/23
Resale Co-ops8
Resale Condos9
New Developments10
Methodology24
3 Overview
11 Luxury
Second Quarter 2017
3. 2017Overview
2Q Corcoran Report
CLOSED SALES
0
1,000
2,000
3,000
4,000
5,000
2Q12 2Q13 2Q14 2Q15 2Q16 2Q17
The Corcoran Group I p 3
Manhattan 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Overview
Closed Sales 3,753 3,682 2% 2,875 31%
Contracts Signed 3,258 3,531 -8% 2,886 13%
Average Days on Market 110 93 19% 109 1%
Inventory 6,421 6,409 0% 5,897 9%
Months of Supply 5.8 5.2 11% 5.4 8%
Prices
Median Price $1.193M $1.100M 8% $1.127M 6%
Average Price $2.163M $2.015M 7% $2.138M 1%
Median PPSF $1,392 $1,344 4% $1,374 1%
Average PPSF $1,913 $1,833 4% $1,917 0%
Median Price by Bedroom
Studio $520K $515K 1% $520K 0%
1 Bedroom $850K $844K 1% $845K 1%
2 Bedroom $1.600M $1.665M -4% $1.715M -7%
3+ Bedroom $4.391M $3.900M 13% $4.288M 2%
Price figures increased from both
last year and last quarter. The median
Manhattan sale price was $1.193M in
Second Quarter 2017, up 8% versus a year
ago a nine-year high for the borough. The
average sale price increased by 7% from
last year to $2.163M, also a record high.
Meanwhile, inventory growth has been
decelerating for the past year and this
quarter was nearly level with last year.
Despite minimal inventory growth and
an increase in closed sales, months of
supply rose by 11% due to fewer closed
sales in preceding quarters, inching the
market closer to the six-to-nine month
supply-demand equilibrium metric.
Second Quarter 2017 closed sales
increased by 2% year-over-year, the first
increase in closed sales since Fourth
Quarter 2015. With the increase in closed
sales also came record high price figures
that surpassed previous records set in
First Quarter 2016.
In addition to being up 2% year-overyear,
closed sales rose 31% versus First
Quarter 2017. Resale co-op and new
development sales drove the increase,
with closed sales rising year-over-year
by 8% and 2%, respectively.
Similar to First Quarter 2017, there were
annual gains in contract activity in the
resale co-op a and $5M plus market,
however, overall condo contract activity
took a step back from last year. A few
Manhattan closed sales
were up 2% in
Second Quarter 2017.
factors contributed to this trend. In
addition to active inventory being
expensive, while overall economic
sentiment has been cautiously
optimistic, interest rates rose in March
and there were some mixed signals in
job and financial markets. The timing
of combined school and religious
holidays caused buyers to pause
purchasing decisions during much of
April. Additionally, some new
developments that were expected
to launch in the first half of the year
either opened later than expected, or
will not launch until the fall.
4. 2Q 2017
MANHATTAN CORCORAN REPORT
Market Wide
Sales
Closings increased 2% year-over-year
to 3,753 sales. Signed contracts were
down 8% year-over-year, retreating
from the annual increase posted during
First Quarter 2017. A number of factors
contributed to this reversal, including
the high prices of active inventory and
the burn off of pent-up demand that
built up prior to the election.
The marketwide increase in closings
was largely driven by an 8% increase
in resale co-op sales, as resale
condominiums posted an 8% decrease
in sales. This was the sixth consecutive
quarter that the number of resale condo
closings decreased year-over-year. New
development closed sales increased
2%, the first annual increase since
Second Quarter 2016. This increase
was prompted by the delivery of units
that entered contract in 2015 and 2016
as well as a notable uptick in units
that closed this quarter that went into
contract in First Quarter 2017 in new
developments that were available for
immediate occupancy.
Days on Market
Average days on market during First
Quarter 2017 was higher across three
out of four bedroom types compared
to this time last year; studio
apartments were the only exception.
The increase in inventory and less
buyer urgency throughout 2016 into
2017 pushed the average higher.
Days on market for all of Manhattan
averaged 110 days this quarter, up a
significant 19% from last year’s figure
of 89 days, however time on market
remains more subdued for smaller
residences.
All bedroom types, except studios,
saw double-digit increases in days
on market versus a year ago. One
bedroom, two bedroom and three+
bedroom residences all had days
on market figures increase by more
than 25%, averaging 100 days on
market or more. Studio apartments
Studios
1 BR
2 BR
3+ BR
0
90
120
150
30
180
Studios
1 BR
2 BR
3+ BR
60
DAYS ON MARKET BY BEDS
0
1,000
2,000
3,000
4,000
5,000
2Q12 2Q13 2Q14 2Q15 2Q16 2Q17
CONTRACTS SIGNED
The Corcoran Group I p 4
Manhattan 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Sales
Closed Sales 3,753 3,682 2% 2,875 31%
Contracts Signed 3,258 3,531 -8% 2,886 13%
Average Days on Market
Market Wide 110 89 19% 109 1%
Studio 79 82 -4% 84 -6%
1 Bedroom 100 79 26% 100 0%
2 Bedroom 116 90 29% 117 0%
3+ Bedroom 154 124 24% 142 8%
bucked the trend by spending 4%
less time on market than last year, at
an average of 79 days.
5. 2Q 2017
MANHATTAN CORCORAN REPORT
Market Wide
Inventory
Manhattan inventory has steadily
increased since 2013, however that
trend nearly ended in Second Quarter
2017. Overall listed inventory reached
6,421 units during the second quarter,
less than 1% above last year’s figure.
Inventory varied by product type
as well. Resale co-ops saw a 2%
increase in inventory, likely buffered
by improved contract activity for
that product type. Resale condo
inventory was flat, dropping by just
a handful of listings to 2,654 units.
New development inventory also
decreased slightly, down 2%, to just
over 1,000 listed units.
All bedroom types except one
bedrooms had year-over-year
increases in inventory during Second
Quarter 2017. One bedrooms had a
5% drop in inventory compared to a
year ago. Two bedroom residences
had the largest increase, up 3%
compared to a year ago, while studios
and three+ bedrooms were each up
1% and 2%, respectively.
Resale
Co-ops
Resale
Condos
New
Dev
0.0
1.0
2.0
3.0
6.0
5.0
4.0
7.0
8.0
9.0
MONTHS OF SUPPLY BY TYPE
0
2,000
4,000
6,000
8,000
10,000
12,000
Condo Listings Co-op Listings
2Q05 2Q06 2Q07 2Q08 2Q09 2Q10 2Q11 2Q12 2Q13 2Q14 2Q15 2Q16 2Q17
CO-OP CONDO INVENTORY
Months of Supply
Monthsofsupplyisanestimateofhowlongit
wouldtaketosellallcurrentactivelistingsat
therateofsalesrecordedduringtheprevious
twelvemonths,ifnonewlistingsenteredthe
market.Sixtoninemonthsisconsidered
supplydemandequilibrium.
Manhattanmarketwideiscurrentlyunder-
suppliedwith5.8monthsofsupply.Thiswas
anincreaseofmorethanhalf-a-monthfrom
ayearago,largelyduetoslowersalesinthe
twelvemonthsincludingSecondQuarter2017.
Monthsofsupplyhasbeensteadilyrisingover
thepastyear,andisnearlyattheequilibrium
All Sales 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Inventory
Market Wide 6,421 6,409 0% 5,897 9%
Studio 593 585 1% 530 12%
1 Bedroom 1,853 1,953 -5% 1,689 9%
2 Bedroom 2,038 1,979 3% 1,875 9%
3+ Bedroom 1,937 1,892 2% 1,791 8%
Months of Supply
Market Wide 5.8 5.2 11% 5.4 8%
Studio 4.0 3.5 13% 3.5 14%
1 Bedroom 4.8 4.4 8% 4.3 11%
2 Bedroom 6.3 5.5 15% 5.8 8%
3+ Bedroom 10.1 9.3 8% 9.7 4%
pointofsixmonths.Resalecondoswerethe
onlyresidencetypewithinequilibrium,with8.1
monthsofsupply.Resaleco-opscontinueto
beunder-supplied,whilethenewdevelopment
marketisat5.6monthsofsupply,excluding
unsoldinventorythatisunlisted.
Twoofthefourbedroomtypeswerewithin
equilibrium,whiletwootherswereunder-
supplied.Asmightbeexpected,smallerand
generallyless-expensivestudioandone
bedroomswereundersupplied,eachwith
lessthanfivemonthsoflistingsavailable
tobepurchased.Twobedroomsandthree
bedrooms,ontheotherhand,eachhad
morethansixmonthsofsupply,withthree+
bedroomshavingnearlyayear’sworth.
The Corcoran Group I p 5
6. 2Q 2017
MANHATTAN CORCORAN REPORT
Market Wide
Prices
Marketwide Manhattan price figures
have been on a general upward trend
over the last several years, and Second
Quarter 2017 was no different. Price
metrics were up year-over-year across
the board; however, relative to Second
Quarter 2016, the magnitudes of
increases were smaller. Still, high priced
new developments like 30 Park Place
and 56 Leonard that are now in the
midst of delivering units pushed pricing
upwards. Additionally, First Quarter 2017
saw a large number of contracts signed
on apartments over $5M that closed in
Second Quarter 2017.
The Second Quarter 2017 median
Manhattan sale price increased year-
over-year to $1.193M, up 8% from last
year, an all-time high. The average
Manhattan sale price was up from last
year, increasing 7% to $2.163M, also a
record high.
Despite price records and high-single-
digit increases in purchase price figures,
the low-single-digit annual increases in
price per square foot metrics are more
indicative of flat pricing as they are
less skewed by purchase price outliers.
Median price per square foot was up just
4% year-over-year to $1,392, and was
level with last quarter. Average price per
square foot was also up 4% from last
year to $1,913 per square foot.
Median price figures during Second
Quarter 2017 increased for all bedroom
types, except two bedrooms. Three+
bedroom residences had the largest
increase, with the median up 13% to
$4.391M due to an increase in market
share for apartments priced above
$1M. Studios and one bedrooms each
increased 1% annually. Median price
for two bedrooms decreased 4%
annually, as Second Quarter 2016 saw
a greater number of two bedroom new
development units closing over $5M at
developments like The Greenwich Lane
compared to this past quarter.
Manhattan 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $1.193M $1.100M 8% $1.127M 6%
Average Price $2.163M $2.015M 7% $2.138M 1%
Median PPSF $1,392 $1,344 4% $1,374 1%
Average PPSF $1,913 $1,833 4% $1,917 0%
Median Price by Bedroom
Studio $520K $515K 1% $520K 0%
1 Bedroom $850K $844K 1% $845K 1%
2 Bedroom $1.600M $1.665M -4% $1.715M -7%
3+ Bedroom $4.391M $3.900M 13% $4.288M 2%
Median PPSF by Bedroom
Studio $1,167 $1,127 4% $1,142 2%
1 Bedroom $1,250 $1,215 3% $1,220 2%
2 Bedroom $1,378 $1,432 -4% $1,478 -7%
3+ Bedroom $1,997 $1,942 3% $2,002 0%
$0
$500
$1,000
$1,500
$2,000
2Q07 2Q08 2Q09 2Q10 2Q11 2Q12 2Q13 2Q14 2Q15 2Q16 2Q17
PricePerSquareFoot
MedianPrice(inmillions)
Median Price Average PPSF
$0.0
$0.3
$0.6
$0.9
$1.2
Studio
1%
1 BR
1%
3+ BR
13%
-5%
0%
5%
10%
15%
-4%
2 BR
MEDIAN PRICE CHANGE BY BEDROOM
The Corcoran Group I p 6
MANHATTAN HISTORICAL PRICES
7. 2Q 2017
MANHATTAN CORCORAN REPORT
-
--
Studio
13%
1 BR
36%
2 BRs
31%
3+ BRs
20%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Studio
14%
1 BR
37%
2 BRs
31%
3+ BRs
18%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Studio
9%
1 BR
29%
2 BRs
32%
3+ BRs
30%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Uptown
8% East Side
23%
West Side
14%
Midtown
18%
Downtown
31%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Uptown
9% East Side
21%
West Side
17%
Midtown
17%
Downtown
32%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Uptown
6%
East Side
22%
West Side
16%
Midtown
19%
Downtown
30%
Financial District
Battery Park City
7%
Financial District
Battery Park City
6%
Financial District
4%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
0-500K
12%
500K-1M
5M+
9%
Price
0-500K
13%
500K-1M
5M+
8%
Price
0-500K
6%
500K-1M
22%
Price
Uptown
15%
Battery Park City
-
Studio
13%
1 BR
36%
2 BRs
31%
3+ BRs
20%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Studio
14%
1 BR
37%
2 BRs
31%
3+ BRs
18%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
dio
%
1 BR
29%
2 BRs
32%
nit Type
ed 2 Bed 3+ Beds
Uptown
8% East Side
23%
West Side
14%
Midtown
18%
Downtown
31%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Uptown
9% East Side
21%
West Side
17%
Midtown
17%
Downtown
32%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
East Side
22%
West Side
16%
Midtown
19%
Financial District
Battery Park City
6%
Financial District
4%
hborhood
East Side
Midtown
Financial District and Battery Park City
0-500K
12%
500K-1M
5M+
9%
Price
0-500K
13%
500K-1M
5M+
8%
Price
0K 500K-1M
22%
Price
15%
Battery Park City
-
--
Studio
13%
1 BR
36%
2 BRs
31%
3+ BRs
20%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Studio
14%
1 BR
37%
2 BRs
31%
3+ BRs
18%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Studio
9%
1 BR
29%
2 BRs
32%
3+ BRs
30%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Uptown
8% East Side
23%
West Side
14%
Midtown
18%
Downtown
31%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Uptown
9% East Side
21%
West Side
17%
Midtown
17%
Downtown
32%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Uptown
6%
East Side
22%
West Side
16%
Midtown
19%
Downtown
30%
Financial District
Battery Park City
6%
Financial District
4%
Neighborhood
East Side
Midtown
Financial District and Battery Park City
0-500K
12%
500K-1M
32%
1M-2M
28%
2M-3M
11%
3M-5M
8%
5M+
9%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+
4Q15
0-500K
13%
500K-1M
34%
26%
2M-3M
11%
3M-5M
8%
5M+
8%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+
0-500K
6%
500K-1M
22%
1M-2M
25%
2M-3M
15%
3M-5M
14%
5M+
18%
Price
0K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+
Resale Condo
28%
Co-op Resale
54%
New Dev
18%
Property Type
Condo Resale Co-op Resale New Dev
Resale Condo
31%
Co-op Resale
51%
New Dev
18%
Property Type
Condo Resale Co-op Resale New Dev
Resale Condo
41%
Co-op Resale
43%
New Dev
16%
Property Type
Condo Resale Co-op Resale New Dev
1M-2M
15%
Battery Park City
-
Studio
13%
1 BR
36%
2 BRs
31%
3+ BRs
20%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Studio
14%
1 BR
37%
2 BRs
31%
3+ BRs
18%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Uptown
8% East Side
23%
West Side
14%
Midtown
18%
Downtown
31%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Uptown
9% East Side
21%
West Side
17%
Midtown
17%
Downtown
32%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Financial District
Battery Park City
6%
Financial District
4%
ark City
0-500K
12%
500K-1M
32%
1M-2M
28%
2M-3M
11%
3M-5M
8%
5M+
9%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+
4Q15
0-500K
13%
500K-1M
34%
26%
2M-3M
11%
3M-5M
8%
5M+
8%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+5MM+
Resale Condo
28%
Co-op Resale
54%
New Dev
18%
Property Type
Condo Resale Co-op Resale New Dev
Resale Condo
31%
Co-op Resale
51%
New Dev
18%
Property Type
Condo Resale Co-op Resale New Dev
1M-2M
15%
Battery Park City
--
Studio
9%
1 BR
29%
2 BRs
32%
3+ BRs
30%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Uptown
6%
East Side
22%
West Side
16%
Midtown
19%
Downtown
30%
Financial District
Battery Park City
7%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park Cit
0-500K
6%
500K-1M
22%
1M-2M
25%
2M-3M
15%
3M-5M
14%
5M+
18%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM
Resale Condo
41%
Co-op Resale
43%
New Dev
16%
Property Type
Condo Resale Co-op Resale New Dev
Uptown
East Side
24%
--
Studio
9%
1 BR
29%
2 BRs
32%
3+ BRs
30%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Uptown
6%
East Side
22%
West Side
16%
Midtown
19%
Downtown
30%
Financial District
Battery Park City
7%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park Ci
0-500K
6%
500K-1M
22%
1M-2M
25%
2M-3M
15%
3M-5M
14%
5M+
18%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM
Resale Condo
41%
Property Type
Uptown
East Side
24%
-
Studio
13%
1 BR
36%
2 BRs
31%
3+ BRs
20%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Studio
14%
1 BR
37%
2 BRs
31%
3+ BRs
18%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Uptown
8% East Side
23%
West Side
14%
Midtown
18%
Downtown
31%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Uptown
9% East Side
21%
West Side
17%
Midtown
17%
Downtown
32%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Financial District
Battery Park City
6%
Financial District
4%
ry Park City
0-500K
12%
500K-1M
32%
1M-2M
28%
2M-3M
11%
3M-5M
8%
5M+
9%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+
4Q15
0-500K
13%
500K-1M
34%
26%
2M-3M
11%
3M-5M
8%
5M+
8%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+M 5MM+
Resale Condo
28%
Property Type
Resale Condo
31%
Property Type
1M-2M
15%
Battery Park City
-
--
Studio
13%
1 BR
36%
2 BRs
31%
3+ BRs
20%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Studio
14%
1 BR
37%
2 BRs
31%
3+ BRs
18%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Studio
9%
1 BR
29%
2 BRs
32%
3+ BRs
30%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Uptown
8% East Side
23%
West Side
14%
Midtown
18%
Downtown
31%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Uptown
9% East Side
21%
West Side
17%
Midtown
17%
Downtown
32%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Uptown
6%
East Side
22%
West Side
16%
Midtown
19%
Downtown
30%
t
ty
Financial District
Battery Park City
6%
Financial District
4%
Neighborhood
East Side
Midtown
Financial District and Battery Park City
0-500K
12%
500K-1M
32%
1M-2M
28%
2M-3M
11%
3M-5M
8%
5M+
9%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+
4Q15
0-500K
13%
500K-1M
34%
26%
2M-3M
11%
3M-5M
8%
5M+
8%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+
0-500K
6%
500K-1M
22%
1M-2M
25%
2M-3M
15%
3M-5M
14%
5M+
18%
Price
500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+
Resale Condo
28%
Property Type
Resale Condo
31%
Property Type
Resale Condo
41%
Property Type
1M-2M
15%
Battery Park City
-
Studio 1 Bed 2 Bed 3+ Beds Studio 1 Bed 2 Bed 3+ Beds
Uptown
8% East Side
23%
West Side
14%
Midtown
18%
Downtown
31%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Uptown
9% East Side
21%
West Side
17%
Midtown
17%
Downtown
32%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Financial District
Battery Park City
6%
Financial District
4%
Park City
0-500K
12%
500K-1M
32%
1M-2M
28%
2M-3M
11%
3M-5M
8%
5M+
9%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+
4Q15
0-500K
13%
500K-1M
34%
26%
2M-3M
11%
3M-5M
8%
5M+
8%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+5MM+
Resale Condo
28%
Co-op Resale
54%
New Dev
18%
Property Type
Condo Resale Co-op Resale New Dev
Resale Condo
31%
Co-op Resale
51%
New Dev
18%
Property Type
Condo Resale Co-op Resale New Dev
1M-2M
15%
Battery Park City
-
--
Studio 1 Bed 2 Bed 3+ Beds Studio 1 Bed 2 Bed 3+ BedsStudio 1 Bed 2 Bed 3+ Beds
Uptown
8% East Side
23%
West Side
14%
Midtown
18%
Downtown
31%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Uptown
9% East Side
21%
West Side
17%
Midtown
17%
Downtown
32%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
Uptown
6%
East Side
22%
West Side
16%
Midtown
19%
Downtown
30%
t
ty
Financial District
Battery Park City
6%
Financial District
4%
Neighborhood
East Side
Midtown
Financial District and Battery Park City
0-500K
12%
500K-1M
32%
1M-2M
28%
2M-3M
11%
3M-5M
8%
5M+
9%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+
4Q15
0-500K
13%
500K-1M
34%
26%
2M-3M
11%
3M-5M
8%
5M+
8%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+
0-500K
6%
500K-1M
22%
1M-2M
25%
2M-3M
15%
3M-5M
14%
5M+
18%
Price
500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+
Resale Condo
28%
Co-op Resale
54%
New Dev
18%
Property Type
Condo Resale Co-op Resale New Dev
Resale Condo
31%
Co-op Resale
51%
New Dev
18%
Property Type
Condo Resale Co-op Resale New Dev
Resale Condo
41%
Co-op Resale
43%
New Dev
16%
Property Type
Condo Resale Co-op Resale New Dev
1M-2M
15%
Battery Park City
--
Studio 1 Bed 2 Bed 3+ Beds
Uptown
6%
East Side
22%
West Side
16%
Midtown
19%
Downtown
30%
Financial District
Battery Park City
7%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
0-500K
6%
500K-1M
22%
1M-2M
25%
2M-3M
15%
3M-5M
14%
5M+
18%
Price
0-500K 500K-1MM 1MM-2MM 2MM-3MM 3MM-5MM 5MM+
Resale Condo
41%
Co-op Resale
43%
New Dev
16%
Property Type
Condo Resale Co-op Resale New Dev
Uptown
East Side
24%
Market Wide
East Side West Side Downtown Financial District Battery Park City UptownMidtown
NEIGHBORHOOD
PROPERTY TYPE
Price Point
Thelargestshiftinmarketsharebyprice
pointwasa2%decreaseinmarketshare
forbothpricecategoriesunder$1M,with
marketshareincreasingforunitsoverthat
pricepoint.Similartotheshiftinsales,active
listingsbelow$1Mlost2%ofmarketshare
versuslastyear.Themarketsharefor
apartmentsunder$1Mcontinuesto
declineasstrongdemandforentrylevel
andmid-marketpropertiesand
theincreasingnumberofnew
developmentintroductionsabove
$2,400persquarefootdrivelisting
priceshigher.
2Q17
BEDROOMS
2Q17
PRICE POINT
Market Share
Comparing the market share of sales to active listings yields notable differences that can affect buyers’ searches and sellers’ sales
efforts, as supply and demand may not match. Here we compare market share of sales and inventory by various measures.
2Q16 INVENTORY
2Q162Q17 INVENTORY
Bedrooms
The share of sales by bedroom type was
relatively consistent year-over-year, but
one bedrooms did decrease while three+
bedrooms increased. Active listings were
significantly different than recent sales for
two types: one bedroom units comprised
36% of sales this quarter but only 29% of
active listings, while three+ bedroom units
claimed 20% of sales yet claimed 30% of
active listings.
Property Type
New development captured the same
18% of sales compared to a year ago.
The high price of resale condo listed
inventory continues to affect sales, as
resale co-ops gained 3% of market
share while resale condos lost 3%.
Neighborhood
The West Side posted the largest change
in market share, falling 3% annually.
Downtown, which had trended upward in
the past few quarters, saw market share
fall 1%. The East Side and the Financial
District and Battery Park City saw market
share increase 2%.
2Q16
$0-500K $500K-1M $2M-3M$1M-2M $5M+$3M-5M
Studio 1 Bedroom 3+ Bedroom2 Bedroom
Resale Condo Resale Co-op New Dev
The Corcoran Group I p 7
INVENTORY
2Q16 INVENTORY2Q17
--
Studio
9%
1 BR
29%
2 BRs
32%
3+ BRs
30%
Unit Type
Studio 1 Bed 2 Bed 3+ Beds
Uptown
6%
East Side
22%
West Side
16%
Midtown
19%
Downtown
30%
Financial District
Battery Park City
7%
Neighborhood
Uptown East Side
West Side Midtown
Downtown Financial District and Battery Park City
0-500K
6%
500K-1M
22%
Price
Uptown
East Side
24%
8. 2Q 2017
MANHATTAN CORCORAN REPORT
Resale Co-ops
The Manhattan resale co-op market
had year-over-year increases in sales
in Second Quarter 2017, and had
increases in price metrics across the
board. Inventory increased slightly.
Sales were up 8% from last year to
2,015 closings. Inventory increased
2% to 2,763 listings. Despite the
increase in sales, the rise in inventory
as well as the softening of sales in
2016 led months of supply to increase
9% to 4.7 months. The lower price of
resale co-op inventory relative to the
condominium market, however, has
kept the market in a continuous state
of under-supply.
Resale Co-ops 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Overview
Closed Sales 2,015 1,874 8% 1,443 40%
Average Days on Market 106 91 17% 95 11%
Inventory 2,763 2,719 2% 2,566 8%
Months of Supply 4.7 4.3 9% 4.4 6%
Prices
Median Price $825K $772K 7% $757K 9%
Average Price $1.380M $1.300M 6% $1.201M 15%
Median PPSF $1,035 $1,002 3% $1,014 2%
Average PPSF $1,437 $1,292 11% $1,189 21%
Median Price by Bedroom
Studio $448K $436K 3% $450K -1%
1 Bedroom $703K $683K 3% $703K 0%
2 Bedroom $1.300M $1.275M 2% $1.300M 0%
3+ Bedroom $2.598M $2.700M -4% $2.615M -1%
RESALE CO-OP HISTORICAL PRICES
$0
$400
$800
$1,200
$0.0
$0.2
$0.4
$0.9
PricePerSquareFoot
MedianPrice(inmillions)
Median Price Average PPSF Median PPSF
$0.8
$1,600
2Q13 2Q14 2Q15 2Q16 2Q172Q12
$0.1
$0.3
$0.5
$0.6
$0.7
Resale co-op price metrics were up
for all metrics in Second Quarter 2017
compared to last year and last
quarter. The median price rose 7% to
$825K and median price per square
foot was up 3% year-over-year to
$1,035. Average price increased
6% from last year to $1.380M, and
average price per square foot was up
11% from last year to $1,437.
Median price was up year-over-
year and quarter-over-quarter for
nearly all bedroom types except
three+ bedrooms. Studios, one and
two bedrooms all saw median price
increase by low single-digits. Three+
bedrooms saw median price fall 4%,
to $2.598M.
35 East 76th Street I WEB# 3420148 1001 Fifth Avenue I WEB# 3949363
EASTSIDE
WESTSIDE
MIDTOWN
DOWNTOWN
FIDI/BPC
UPTOWN
$0.0
$0.2
$0.4
$0.6
$0.8
$1.0
Millions
$1.2
NEIGHBORHOOD MEDIAN PRICES
The Corcoran Group I p 8
AVAILABLE CO-OP RESIDENCES
9. 2Q 2017
MANHATTAN CORCORAN REPORT
Resale Condos
Resale condo sales decreased 8% year-
over-year to 1,048 closings. There was
a quarter-over-quarter increase due
mostly to typical seasonality seen with
the spring selling season. Inventory
remained nearly level while days on
market increased 22%. Months of
supply was well within the six-to-nine
month equilibrium due to slower sales
and the general upward inventory trend.
Resale Condos 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Overview
Closed Sales 1,048 1,139 -8% 839 25%
Average Days on Market 118 97 22% 128 -7%
Inventory 2,654 2,661 0% 2,297 16%
Months of Supply 8.1 7.4 24% 6.8 18%
Prices
Median Price $1.475M $1.247M 18% $1.385M 6%
Average Price $2.207M $1.880M 17% $2.048M 8%
Median PPSF $1,518 $1,442 5% $1,464 6%
Average PPSF $1,809 $1,683 -2% $1,753 -7%
Median Price by Bedroom
Studio $714K $650K 10% $663K 8%
1 Bedroom $1.063M $980K 8% $1.089M -2%
2 Bedroom $1.810M $1.861M -3% $1.910M -5%
3+ Bedroom $4.503M $3.498M 29% $3.650M 23%
Median sale price increased 18%
annually to $1.475M. This was caused
mostly by falling market share of
units priced under $1M. Average price
rose 17% year-over-year, to $2.207M.
Average price was pushed upward by
several high priced resales at 15 Central
Park West, One57, and Time Warner
Center.
Median price by bedroom type stayed
relatively varied, with studios and three+
bedroom residences posting double-
digit increases, rising 10% and 29%,
respectively. One bedroom residences
posted an 8% increase year-over-year
while two bedroom homes posted a 3%
decrease in median price.
Downtown claimed the highest median
price of any neighborhood during First
Quarter 2016, and was joined by the
East Side, West Side, Midtown, and the
Financial District Battery Park City
with medians over $1M.
RESALE CONDO HISTORICAL PRICES
$0
$400
$800
$1,200
$0.0
$0.3
$0.9
$1.5
$1.8
PricePerSquareFoot
MedianPrice(inmillions)
Median Price Average PPSF Median PPSF
$1.2
$1,600
$2,000
2Q13 2Q14 2Q15 2Q16 2Q172Q12
$0.6
EastSide
Midtown
Millions
EASTSIDE
WESTSIDE
MIDTOWN
DOWNTOWN
FIDI/BPC
UPTOWN
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
NEIGHBORHOOD MEDIAN PRICES
110 East 71st Street I WEB# 511380256 Leonard Street I WEB# 3792192
The Corcoran Group I p 9
AVAILABLE CONDO RESIDENCES
10. 2Q 2017
MANHATTAN CORCORAN REPORT
New Developments
Second Quarter 2017 Manhattan new
development sales increased 2% year-
over-year, bucking the trend experienced
during the last three quarters of annual
decreases in closed sales figures.
New Developments 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Closed Sales 680 669 2% 478 42%
Inventory 1,004 1,029 -2% 1,034 -3%
Months of Supply 5.6 4.5 24% 5.8 -3%
Prices
Median Price $2.854M $2.560M 11% $2.918M -2%
Average Price $4.406M $4.250M 4% $4.787M -8%
Median PPSF $2,070 $1,975 5% $1,962 6%
Average PPSF $2,508 $2,565 -2% $2,703 -7%
Median Price by Bedroom
Studio $1.362M $815K 67% $541K 152%
1 Bedroom $1.248M $1.319M -5% $1.217M 3%
2 Bedroom $2.737M $2.562M 7% $3.000M -9%
3+ Bedroom $5.986M $6.659M -10% $7.164M -16%
Listed inventory fell 2% year-over-year
and 3% from last quarter. Despite the
slight fall in listed inventory, softer sales
in the previous nine months led to an
increase in months of supply compared to
last year. At 5.6 months this quarter the
figure was up 1.1 months from last year.
New development posted annual increases
in average price and median price, up 11%
and 4%, respectively. Price per square
foot metrics were split, as median price
per square foot up rose 5% while average
price per square foot actually fell, for the
first time in over a year, by 2%.
Median price changes diverged sharply by
bedroom. Studios increased a significant
67% due to high floor units closing at
Manhattan View at MiMA. Alternatively,
three+ bedrooms decreased 10%. This
annual decrease was affected by the
timing of move-ins at ultra-luxury and
tower developments such as 432 Park
and 150 Charles which had large numbers
of closings in the first half of 2016.
NEW DEVELOPMENT HISTORICAL PRICES
$0
$600
$1,200
$1,800
$0.0
$0.5
$1.0
2Q13 2Q14 2Q15 2Q16 2Q17
MedianPrice(inmillions)
Median Price Average PPSF Median PPSF
$1.5
$2,400
$3,000
$2.0
$2.5
2Q12
$3.0
$3.5
PricePerSquareFoot
$4.0
NEW DEVELOPMENTS CURRENTLY IN CLOSINGS
20 East End Avenue The Greenwich Lane
$0.0
$1.5
Millions
EASTSIDE
WESTSIDE
MIDTOWN
UPTOWN
DOWNTOWN
FIDI/BPC
$2.0
$0.5
$1.0
$2.5
$3.0
$3.5
$4.0
$4.5
NEIGHBORHOOD MEDIAN PRICES
The Corcoran Group I p 10
11. 2Q 2017
MANHATTAN CORCORAN REPORT
Luxury
Theluxurymarketisdefinedasthetop10%
ofclosedsalesintermsofprice.InSecond
Quarter2017theluxurythreshold,which
markstheentrypointintotheluxurycategory,
hitarecordhighat$4.686M.Thisquarter’s
thresholdwas13%higherthanSecond
Quarter2016andup5%fromlastquarter.
Themedianpriceforaluxurysalethisquarter
Luxury 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Median Price $6.700M $5.651M 19% $6.900M -3%
Average Price $9.158M $7.605M 20% $9.321M -2%
Median PPSF $2,614 $2,441 7% $2,835 -8%
Average PPSF $3,018 $2,856 6% $3,179 -5%
Luxury Threshold $4.686M $4.149M 13% $4.450M 5%
LUXURY HISTORICAL PRICES
PricePerSquareFoot
MedianPrice(inMillions)
Median Price Average PPSF
1Q13 1Q14 1Q15 1Q16 1Q171Q12
$0.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
$7.0
$8.0
$0
$600
$1,200
$1,800
$2,400
$3,000
$3,600
was $6.700M, up a significant 19% from
last year. Second Quarter 2017 had a
larger number of sales over $5M versus
a slow start to the luxury market in 2016.
The average price for a luxury sale was
$9.158M during Second Quarter 2017, 20%
higher than last year.
Downtown claimed nearly half of all
luxury sales in First Quarter 2017, with a
market share of 48%; this represents a
6% decrease from Second Quarter 2016.
The East Side had the second largest
share, at 33%, and Midtown claimed
13% of luxury sales, which was also the
submarket with the greatest increase in
market share year-over-year.
While luxury sales represent 10% of market
activity, luxury listings (those over the
minimum price threshold of $4.502M)
accounted for a substantial 20% of
available units in Manhattan. Compared
to the closed sales luxury threshold of
$4.686M, the luxury threshold for the
top 10% of listings in terms of price was
$7.515M, 60% higher than for closed sales,
highlighting the disconnect between closed
sales prices and listed inventory prices.
3 East 89th Street I WEB# 5100917 166 East 81st Street I WEB# 5131182
1083 Fifth Avenue I WEB# 5101020
The Corcoran Group I p 11
EAST SIDE
33%
WEST SIDE
13%
MIDTOWN
13%
DOWNTOWN
48%
FIDI / BPC
1%
UPTOWN
0%
MARKET SHARE OF LUXURY SALES
SELECTED LISTINGS
12. East SideThe East Side had 851 closings in Second Quarter 2017, a 12% increase from a year ago and a 52% increase
from First Quarter 2017.
851Sales
+12%
1,440Inventory
+2%
6.3Months of Supply
+18%
121Days on Market
+16%
$1.100MMedian Price
-8%
$1,741Average PPSF
-2%Annual
Change
300 East 77th Street I WEB# 5102779 on corcoran.com
13. 2Q 2017
MANHATTAN CORCORAN REPORT
The East Side had 851 closed sales
in First Quarter 2017, a 12% increase
compared to a year ago. Inventory
was up a slight 2% year-over-year
to 1,440 units. Months of supply
increased to 6.3 months, which puts
it within the six-to-nine month supply-
demand equilibrium. With the increase
in inventory came a 16% increase in
the average time listings spent on the
market, up to 121 days.
Pricing metrics were mixed by product
type and residence size. Overall, the
median price on the East Side fell 8%
annually, while average price increased
2%. Both median price per square foot
and average price per square foot fell
2%. Resale co-op prices stayed level
with last year, while average price per
square foot for resale co-ops fell 5%.
For resale condos, pricing metrics were
up across the board, as average price
rose 23% and median price 9%.
East Side average price
increased 2% annually.
East Side
East Side 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Overview
Closed Sales 851 757 12% 559 52%
Average Days on Market 121 104 16% 111 8%
Inventory 1,440 1,408 2% 1,247 15%
Months of Supply 6.3 5.3 18% 5.6 12%
Resale Co-op 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $900K $900K 0% $864K 4%
Average Price $1.819M $1.813M 0% $1.537M 18%
Median PPSF $1,000 $986 1% $968 3%
Average PPSF $1,452 $1,528 -5% $1,294 12%
Median Price by Bedroom
Studio $425K $387K 10% $425K 0%
1 Bedroom $675K $660K 2% $670K 1%
2 Bedroom $1.355M $1.400M -3% $1.403M -3%
3+ Bedroom $3.400M $3.288M 3% $3.200M 6%
Resale Condo 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $1.550M $1.425M 9% $1.550M 0%
Average Price $2.249M $1.823M 23% $2.356M -5%
Median PPSF $1,455 $1,404 4% $1,426 2%
Average PPSF $1,771 $1,600 11% $1,735 2%
Median Price by Bedroom
Studio $585K $628K -7% $630K -7%
1 Bedroom $800K $950K -16% $925K -14%
2 Bedroom $1.740M $1.820M -4% $1.875M -7%
3+ Bedroom $4.446M $3.250M 37% $4.658M -5%
New Development 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $2.406M $1.941M 24% $1.695M 42%
Average Price $4.542M $4.712M -4% $4.089M 11%
Median PPSF $1,635 $1,590 3% $1,813 -10%
Average PPSF $2,393 $2,592 -8% $2,421 -1%
Median Price by Bedroom
Studio NA $680K NA NA NA
1 Bedroom $1.153M $1.009M 14% $1.113M 4%
2 Bedroom $2.432M $1.941M 25% $2.683M -9%
3+ Bedroom $5.646M $10.300M -45% $8.039M -30%
The new development median
price was up 24% year-over-year
to $2.406M, and the average price
dropped 4% to $4.542M. These year-
over-year fluctuations were caused by
a shift in the type of developments in
closings away from developments with
moderate pricing, which comprised a
large number of closings during Second
Quarter 2016. However, average price
decreased due to fewer closings above
the luxury threshold.
The Corcoran Group I p 13
14. West SideThe West Side saw median price and average price increase 16% and 37%, respectively.
541
Sales
-14%
1,015Inventory
+11%
5.7Months of Supply
+37%
95Days on Market
+8%
$1.250MMedian Price
+16%
$2,204Average PPSF
+31%Annual
Change
220 Riverside Boulevard I WEB# 5118358 on corcoran.com
15. 2Q 2017
MANHATTAN CORCORAN REPORT
West Side sales decreased year-over-
year, down 14% to 541 closings in
Second Quarter 2017. However, this
was an 18% increase from last quarter.
Inventory increased 11% from Second
Quarter 2016, exceeding 1,000 active
listings. This decrease in sales coupled
with an increase in inventory led to a
37% jump in months of supply when
compared to Second Quarter 2016,
to 5.7 months, inching closer to the
supply-demand equilibrium range of six
to nine months. There was an increase
in the average time on market, which
rose 8% from Second Quarter 2016 to
95 days.
Average price increased
by 37% year-over-year.
West Side
West Side 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Overview
Closed Sales 541 627 -14% 459 18%
Average Days on Market 95 88 8% 105 -9%
Inventory 1,015 915 11% 884 15%
Months of Supply 5.7 4.2 37% 4.8 19%
Resale Co-op 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $1.010M $880K 15% $889K 14%
Average Price $1.784M $1.413M 26% $1.462M 22%
Median PPSF $1,165 $1,079 8% $1,083 8%
Average PPSF $1,869 $1,377 36% $1,284 46%
Median Price by Bedroom
Studio $435K $428K 2% $442K -2%
1 Bedroom $715K $749K -5% $717K 0%
2 Bedroom $1.400M $1.320M 6% $1.476M -5%
3+ Bedroom $2.600M $2.605M 0% $2.830M -8%
Resale Condo 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $1.530M $1.350M 13% $1.470M 4%
Average Price $3.218M $2.193M 47% $2.913M 10%
Median PPSF $1,598 $1,471 9% $1,515 5%
Average PPSF $2,481 $1,898 31% $2,323 7%
Median Price by Bedroom
Studio $785K $715K 10% $670K 17%
1 Bedroom $1.140M $997K 14% $1.094 4%
2 Bedroom $1.845M $2.050M -10% $1.999M -8%
3+ Bedroom $4.538M $3.799M 19% $3.759M 21%
New Development 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $3.252M $3.479M -7% $6.619M -51%
Average Price $6.673M $3.950M 69% $6.691M 0%
Median PPSF $2,339 $1,990 18% $2,313 1%
Average PPSF $2,290 $2,038 12% $2,394 -4%
Median Price by Bedroom
Studio $1.190M $560K NA NA NA
1 Bedroom $3.176M $1.337M NA NA NA
2 Bedroom $1.660M $3.052M -46% $3.462M -52%
3+ Bedroom $11.268M $5.524M 104% $6.907M 63%
The resale co-op median price
increased 15% year-over-year and the
average price increased 26% due to
listings under $1M losing market share
and several high priced closings at The
San Remo. Resale condo price metrics
also increased, with median price up
13% and average price up 47% due to
an increase in sales at Time Warner
Center and 15 Central Park West.
New development average price
and average price per square foot
had significant year-over-year
increases this quarter. The West Side
neighborhood includes the blocks
between Central Park South and the
north side of 57th Street and high
priced closings at One57 and One
Riverside Park pushed average price
up 69%.
The Corcoran Group I p 15
16. 305 East 51st Street I WEB# 5129169 on corcoran.com
MidtownMidtown had a 5% increase in sales compared to last quarter, as listing inventory fell by 13%.
677Sales
+5%
1,210
Inventory
-13%
6.5Months of Supply
+4%
117Days on Market
+23%
$1.065MMedian Price
+9%
$1,747Average PPSF
-13%Annual
Change
17. 2Q 2017
MANHATTAN CORCORAN REPORT
Midtown had 677 closed sales during
Second Quarter 2017, up 5% year-
over-year. Inventory decreased 13%
from last year to 1,210 listings, and
months of supply also increased 4%
to 6.5 months. This keeps the Midtown
neighborhood within the supply-
demand equilibrium range of six-to-
nine months. Average days on market
increased compared to last year, as the
average time from listing to sale rose
23% to nearly 120 days.
Midtown
Midtown 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Overview
Closed Sales 677 643 5% 487 27%
Average Days on Market 117 95 23% 117 1%
Inventory 1,210 1,396 -13% 1,183 2%
Months of Supply 6.5 6.2 4% 6.3 3%
Resale Co-op 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $663K $630K 5% $650K 2%
Average Price $969K $846K 15% $795K 22%
Median PPSF $970 $892 9% $882 10%
Average PPSF $1,193 $930 28% $894 33%
Median Price by Bedroom
Studio $399K $370K 8% $405K -1%
1 Bedroom $640K $652K -2% $650K -1%
2 Bedroom $1.300M $1.050M 24% $1.048M 24%
3+ Bedroom $2.325M $2.128M 9% $2.325M 0%
Resale Condo 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $1.175M $1.040M 13% $1.278M -8%
Average Price $1.449M $1.326M 9% $1.618M -10%
Median PPSF $1,474 $1,391 6% $1,441 2%
Average PPSF $1,537 $1,486 3% $1,541 0%
Median Price by Bedroom
Studio $710K $629K 13% $652K 9%
1 Bedroom $1.027M $976K 5% $1.068 -4%
2 Bedroom $1.703M $1.738M -2% $1.780M -4%
3+ Bedroom $2.725M $4.251M -36% $3.175M -14%
New Development 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $3.643M $2.905M 25% $1.803M 102%
Average Price $3.925M $5.653M -31% $4.960M -21%
Median PPSF $2,288 $2,018 13% $1,789 28%
Average PPSF $2,464 $3,204 -23% $3,378 -27%
Median Price by Bedroom
Studio $1.472M $1.053M 40% $1.119M 32%
1 Bedroom $1.180M $1.466M -19% $1.255M -6%
2 Bedroom $3.544M $3.110M 14% $2.038M 74%
3+ Bedroom $5.414M $5.424M 0% $4.282M 26%
Overall price statistics varied. Median
price rose 9% while average price fell
13%. Pricing also varied by residence
type, with resale co-op average price
up 15% to $969K compared to last
year. Average price for resale condos
was up 9% to $1.449M. Average price
per square foot and median price per
square foot statistics increased across
both resale product types.
The Second Quarter 2016 median new
development price was up 25% year-
over-year to $3.643M, due partially to
fewer closings in mid-market buildings
on blocks further from Central Park.
Average price, however, decreased a
significant 31% as the market share of
apartments selling for more than $10M
fell from 11% in Second Quarter 2016 to
just under 4% this past quarter.
The Corcoran Group I p 17
Median new development
price rose by 25%
year-over-year.
18. DowntownDowntown again had the highest number of closed sales this quarter. Average days on market and months of supply
both increased as inventory continued to trend upward.
1,146Sales
-1%
1,902Inventory
+4%
5.5Months of Supply
+1%
106Days on Market
+23%
$1.544MMedian Price
-2%
$2,159Average PPSF
+4%Annual
Change
30 West Street I WEB# 5136947 on corcoran.com
19. 2Q 2017
MANHATTAN CORCORAN REPORT
Second Quarter 2017 closed sales
Downtown decreased 1% from last
year to 1,146. This was coupled with
a 4% year-over-year increase in
inventory to 1,902 listings, leading to
a 1% increase in months of supply
to 5.5 months. The average days
on market increased by 23% to 106
days as buyers had more options to
choose from.
Average new development
price was over $5 million.
Downtown
Downtown 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Overview
Closed Sales 1,146 1,160 -1% 903 27%
Average Days on Market 106 86 23% 104 2%
Inventory 1,902 1,830 4% 1,788 6%
Months of Supply 5.5 5.4 1% 5.1 8%
Resale Co-op 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $860K $816K 5% $808K 6%
Average Price $1.168M $1.235M -5% $1.135M 3%
Median PPSF $1,225 $1,171 5% $1,238 -1%
Average PPSF $1,479 $1,314 13% $1,352 9%
Median Price by Bedroom
Studio $550K $525K 5% $550K 0%
1 Bedroom $875K $765K 14% $816K 7%
2 Bedroom $1.505M $1.630M -8% $1.600M -6%
3+ Bedroom $2.475M $2.733M -9% $2.863M -14%
Resale Condo 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $1.938M $1.967M -1% $1.815M 7%
Average Price $2.586M $2.706M -4% $2.291M 13%
Median PPSF $1,799 $1,759 2% $1,680 7%
Average PPSF $1,861 $1,984 -6% $1,810 3%
Median Price by Bedroom
Studio $849K $674K 26% $680K 25%
1 Bedroom $1.340M $1.250M 7% $1.295M 3%
2 Bedroom $2.347M $2.538M -8% $2.500M -6%
3+ Bedroom $5.275M $4.450M 19% $4.198M 26%
New Development 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $3.948M $3.198M 23% $5.095M -23%
Average Price $5.407M $4.381M 23% $6.828M -21%
Median PPSF $2,139 $2,194 -3% $2,544 -16%
Average PPSF $2,740 $2,518 9% $2,974 -8%
Median Price by Bedroom
Studio $1.044M $1.095M -5% $725K 44%
1 Bedroom $1.522M $1.516M 0% $1.537M -1%
2 Bedroom $2.911M $3.103M -6% $3.663M -21%
3+ Bedroom $6.670M $6.950M -4% $7.850M -15%
The median price for resale co-ops in
Second Quarter 2017 was up 5% to
$860K, with smaller bedroom types
experiencing increases in median
price figures while larger residences
registered decreases. Resale condo
price statistics mostly notched
decreases, as median price, average
price and average price per square
foot each decreased. Median price per
square foot rose just 2%.
New development median and average
price each rose 23% versus last year.
The median price rose to $3.948M and
average price to $5.407M. Three out
of four new development bedroom
types saw decreases in median prices,
while one bedrooms remained level.
Average and median price metrics
rose largely due to the increase in the
proportion of units being delivered at
tower developments like 56 Leonard
and 30 Park Place.
The Corcoran Group I p 19
20. Financial District
Battery Park City
The Financial District Battery Park City had the largest percentage increase in closed sales in Second Quarter
2017. However, an 11% increase in inventory pushed average days on market and months of supply higher.
226
Sales
+41%
442Inventory
+11%
7.5Months of Supply
+19%
119Days on Market
+8%
$1.761MMedian Price
+80%
$1,864Average PPSF
+35%Annual
Change
15 Broad Street I WEB# 5123445 on corcoran.com
21. 2Q 2017
MANHATTAN CORCORAN REPORT
Closed sales in Financial District
Battery Park City increased by 41%
year-over-year, up to 226 closings. This
increase was driven primarily by new
development activity at 50 West and
101 Wall. Inventory increased by 11%
compared with First Quarter 2017 to 442
apartments available for purchase. The
average days on market increased by
8% year-over-year to 119 days. Months
of supply increased 19% year-over-year
to 7.5 months, still within the supply
demand equilibrium range.
Resale co-ops saw large increase in
median and average price statistics,
while price per square foot metrics were
mixed. These large fluctuations were
due to the small number of sales of this
product type. Resale condo price figures
had increases across all metrics, with
the median price up 24% and average
price up 22%. This was largely due to
an increase in the median price for one
bedrooms and three bedrooms, up 17%
and 6%, respectively.
Resale condo price figures
increased across the board.
Financial District
Battery Park City
Financial District
Battery Park City
2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Overview
Closed Sales 226 160 41% 197 15%
Average Days on Market 119 111 8% 120 0%
Inventory 442 398 11% 361 22%
Months of Supply 7.5 6.3 19% 6.7 11%
Resale Co-op 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $950K $757K 26% $750K 27%
Average Price $1.141M $899K 27% $804K 42%
Median PPSF $969 $1,025 -5% $1,051 -8%
Average PPSF $1,457 $1,034 41% $984 48%
Median Price by Bedroom
Studio $875K $493K 77% $475K 84%
1 Bedroom $735K $710K 4% $750K -2%
2 Bedroom $1.220M $1.058M 15% $1.100M 11%
3+ Bedroom NA NA NA NA NA
Resale Condo 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $1.200M $970K 24% $970K 24%
Average Price $1.515M $1.245M 22% $1.143M 33%
Median PPSF $1,366 $1,233 11% $1,194 14%
Average PPSF $1,414 $1,299 9% $1,307 8%
Median Price by Bedroom
Studio $685K $698K -2% $680K 1%
1 Bedroom $1.024M $875K 17% $940K 9%
2 Bedroom $1.880M $2.005M -6% $1.551M 21%
3+ Bedroom $2.920M $2.750M 6% $3.088M -5%
New Development 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $2.155M $2.405M -10% $2.589M -17%
Average Price $2.943M $3.134M -6% $2.642M 11%
Median PPSF $1,801 $1,576 14% $1,843 -2%
Average PPSF $2,168 $1,851 17% $1,939 12%
Median Price by Bedroom
Studio $891K NA NA NA NA
1 Bedroom $1.665M $1.135M 47% $1.760M -5%
2 Bedroom $2.670M $1.950M 37% $2.908M -8%
3+ Bedroom $6.045M $5.123M 18% $4.590M 32%
New development price figures were
mixed this quarter. Both median and
average price fell, by 10% and 6%,
respectively. However, average price
per square foot and median price per
square foot both rose during the same
period. Median and average price fell
in Second Quarter 2017 due largely
to fluctuations in the number of sales
versus last year. Second Quarter 2016
saw just 20 closed sales, all priced
over $1M versus Second Quarter 2017
which saw more than 70 closed sales
with prices starting below $1M.
The Corcoran Group I p 21
22. Upper Manhattan
Upper Manhattan sales decreased compared to last year, but was the only neighborhood with a drop in months of supply
year-over-year. At just 3.8 months, Upper Manhattan had the lowest months of supply of any neighborhood in Manhattan.
312Sales
-7%
412
Inventory
-11%
3.8Months of Supply
-6%
108Days on Market
+31%
$660KMedian Price
+13%
$932Average PPSF
+12%Annual
Change
138-140 West 124th Street I WEB# 5148323 on corcoran.com
23. 2Q 2017
MANHATTAN CORCORAN REPORT
Price metrics varied considerably by
product type. Resale co-op median
price was down 3% while average
price increased by 13%. Median price
metrics decreased for studios and two
bedrooms. On the other hand, resale
condo median and average price
metrics increased, by 15% and 6%,
respectively. Median price by bedroom
type for resale condos fluctuated
greatly, with studios falling 1%, while
one bedrooms, two bedrooms and
three+ bedrooms all increased by
varying magnitudes.
The median price of new
developments increased 32% year-
over-year to $864K, and the average
price was up 20% to $873K. This was
coupled by double-digit increases in
median and average price per square
foot, and double-digit increases in
median prices for all new development
bedroom types except studios.
Sales in Upper Manhattan were down
7% versus last year to 312 closings.
Inventory was down from a year ago,
decreasing by 11% from last year.
Despite the drop in sales, the decline in
inventory was even greater, leading to a
6% decrease in months of supply. Upper
Manhattan was the only Manhattan
submarket to experience a decrease
in months of supply of any Manhattan
neighborhood.
New development median
price increased 32%
compared to last year.
Upper Manhattan
Upper Manhattan 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Overview
Closed Sales 312 335 -7% 270 15%
Average Days on Market 108 83 31% 103 5%
Inventory 412 462 -11% 434 -5%
Months of Supply 3.8 4.1 -6% 4.0 -3%
Resale Co-op 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $485K $499K -3% $525K -8%
Average Price $598K $527K 13% $595K 1%
Median PPSF $671 $588 14% $610 10%
Average PPSF $861 $619 39% $624 38%
Median Price by Bedroom
Studio $239K $250K -4% $312K -23%
1 Bedroom $405K $365K 11% $470K -14%
2 Bedroom $515K $571K -10% $635K -19%
3+ Bedroom $929K $815K 14% $720K 29%
Resale Condo 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $899K $785K 15% $855K 5%
Average Price $1.102M $1.043M 6% $992K 11%
Median PPSF $922 $894 3% $955 -3%
Average PPSF $983 $1,002 -2% $981 0%
Median Price by Bedroom
Studio $518K $525K -1% $728K -29%
1 Bedroom $598K $595K 0% $588K 2%
2 Bedroom $995K $854K 17% $925K 8%
3+ Bedroom $2.018M $1.420M 42% $1.525M 32%
New Development 2Q17 2Q16 % Chg (yr) 1Q17 % Chg (qtr)
Prices
Median Price $864K $656K 32% $676K 28%
Average Price $873K $727K 20% $694K 26%
Median PPSF $1,102 $907 22% $1,002 10%
Average PPSF $974 $902 8% $934 4%
Median Price by Bedroom
Studio NA $576K NA $455K NA
1 Bedroom $595K $503K 18% $664K -10%
2 Bedroom $1.002M $913K 10% $850K 18%
3+ Bedroom $1.311M $960K 37% $791K 66%
The Corcoran Group I p 23
24. 2Q 2017
MANHATTAN CORCORAN REPORT
Methodology
Metrics
Previous Quarter statistics for
sales and prices are revised in the
subsequent report once data are
available for the full quarter period.
Closed and Contracts Signed figures
for the current quarter are based
on reported transactions at the time
the report is prepared and projected
through the end of the quarter taking
into account typical seasonality.
Days on market averages how long a
unit takes to sell and is calculated by
subtracting contract date from list
date. Units on the market longer than
three years and shorter than one day
are considered outliers and removed
from the data to prevent significant
skewing. New developments are
excluded because many available,
unsold units are held off the market
for long periods of time.
Average Price per Square Foot is the
average price divided by the average
square footage. In prior Corcoran
Reports this was calculated as an
average of all prices per square foot,
which gives a number less skewed by
high price sales and more similar to
a median price per square foot. The
two metrics are now separated to give
more insight to market dynamics.
Median Price and Price per Square
Foot are the middle or midpoint price
where half of sales fall below and half
fall above this number.
Inventory is a count of all currently
listed units and is measured two
weeks before the end of the quarter.
It does not include unsold yet unlisted
units in new developments (“shadow”
inventory).
Months of Supply is an estimate of how
long it would take to sell all currently
listed units based on the average
closed sales per month over the last
twelve months. Six-to-nine months is
considered supply-demand equilibrium.
Source – Figures in this report are based on publicly reported closed sales
information via the Automated City Register Information System (ACRIS)
and PropertyShark, an independent research firm, as well as from Corcoran’s
proprietary listings database.
The Corcoran Group is a licensed real estate broker located at 660 Madison Ave, NY, NY 10065.
The Corcoran Group I p 24
Number of sales
per building:
Above 20 Units
10 to 20 Units
3 to 9 Units
1 to 2 Units
Average price
per square foot (SF):
Above $2,500 SF
$2,000 - $2,500 SF
$1,500 - $2,000 SF
$1,250 - $1,500 SF
$1,000 - $1,250 SF
$750 - $1,000 SF
$500 - $750 SF
Below $500 SF
No SF Available