New York, NY, July 2, 2013 --According to the 2013 second
quarter Manhattan residential market report released today by Brown Harris
Stevens, the average Manhattan apartment sale price of $1,411,986 was down 3%
from the second quarter of 2012.
The median price, which measures the middle of the market
and is less impacted by high-end sales, was unchanged from a year ago -
$850,000. With inventory still at low levels, the number of closings was down
just 1% to 2,475 when compared to the second quarter of last year.
The average price of
cooperative apartments fell 11% when compared to the second quarter of 2012. This
was due in large part to a significant drop in average price for 3-bedroom and
larger homes. Condominium prices were up 4% to $1,879,253 with almost all size
categories experiencing an increase in price.
 |
| Hall F. Wilkie |
“With inventory near
record lows, the market report doesn’t fully capture the level of activity in
the market place,” said Hall. F. Willkie, president of Brown Harris
Stevens Residential Sales.
“Scarcity is an important issue, and when apartments are
properly priced they are selling quickly. While there is great demand and small
supply, buyers are reluctant to pay a price that is not justifiable,
“Job growth remains
strong in the City as does interest from both domestic and international
buyers. This bodes well for a healthy market.”
For a complete
copy of the report and the company’s
news release, please contact:
Rachel Gonzalez,
Rubenstein PR
212.843.9240
.
No comments:
Post a Comment