2014 {NYC Real Estate} Q1- Market Report

Here is the 2014 {NYC Real Estate} Q1- Market Report from Town Aggregate:

Per the TOWN Aggregate, we bring you a comprehensive report on sales behavior across three distinct asset classes-condominiums, cooperatives and townhouses from January through March 2014. The first quarter has seen an overall climb in asset prices as sales continued to pick up .

The first quarter of 2014 saw significant economic price movement among market-wide Manhattan sales compared to last quarter. The market-wide average sales price of Manhattan apartment experienced a quarter-over-quarter increase of 14.29%, from $1,472,808 to $1,683,216, while the median sales price drew a quarter-over-quarter increase of 9.52%, from $840,000 to $920,000.

CaptureCapture2Capture3A breakdown of sales transactions between January and March 2014 by pricing category reveals Manhattan apartment sales between $500,000-$1 million represented the largest category of sales activity market-wide.


Condominium sales represented fewer sales transactions than co-ops, accounting for approximately 43% of closed sales with positive and significant price movements in the first quarter of 2014. The average price of a Manhattan condo increased 18.18% quarter-over-quarter, from $1,958,958 to $2,315,053, while increasing 29.44% year-over-year. Limited inventory mixed with high demand has led to a mere 74 median days on market for the first quarter of 2014. Capture6Capture7Capture8


In the first quarter of 2014, price movement for co-ops was generally positive with minimal pricing decreases. The average sale price of a Manhattan co-op increased by approximately 9.85% quarter-over-quarter, from $1,131,369 to $1,242,832, while the year-over-year increased from $952,570. 


Capture10Capture11Luxury Market

Luxury sales are a unique subset of the Manhattan residential market, consisting of the top ten percent of apartment sales by price, excluding townhouses. These sales are typically from high-end products such as larger two-and three-or-more bedrooms. In the first quarter of 2014, the entry level price in this category increased to approximately $3.5 million, and average price increased over 19% quarter-over-quarter from $5,798,051 to $6,956,325.

Luxury Market
Streeteasy’s report gives total inventory, contracts signed, days on market and price changes. Click here to see detailed report.


For more detailed information contact Claudia@townrealestate.com

Claudia Saez-Fromm
Claudia Saez-Fromm
Claudia Saez-Fromm

An entrepreneur, innovator, and singularly successful real estate salesperson, fitness fiend, foodie, mommy, and fashion fan. www.claudiasaezfromm.com

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