Health & Fitness
Q1-2014 Manhattan Co-op and Condo sales statistics!
This article contains a report that provides all of the sales metrics for residential condo and co-op sales in Manhattan. The year-over-year gains are impressively strong raising the question of sustainability!
Courtesy of Douglas Elliman’s EllimanReport, the chart below presents Q1-2014 metrics for residential co-op and condo sales in the New York City borough of Manhattan!
Performance, when compared to Q1-2013, is extremely impressive and in fact so impressive that one might be moved to ask whether these gains are sustainable going forward.
In fact, year-over-year gains were so strong that the question could arise as to whether the real estate market is approaching the dreaded B-word of bubble-like conditions.
Find out what's happening in Syossetfor free with the latest updates from Patch.
As an example the median price of property rose year-over-year by 18.5%, although that still places values 5% below the records set in 2008. At the same time the average sales price rose a whopping 30.9% to $1,773,523.
The average price per square foot set a 25-year record reaching the lofty level of $1,363 which was 23.6% above Q1-2013 levels.
Find out what's happening in Syossetfor free with the latest updates from Patch.
Sustainable gains that will extend going forward? Only time will tell but for now it’s great news for sellers and makes for a challenging and competitive environment for those interested in buying!
Q1-2014 Manhattan, New York residential real estate statistics! (If the chart does not format or load correctly view it here)
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