The 2018 Manhattan Townhouse Report

Contact me here for assistance with buying or selling a property in Manhattan.

OVERVIEW: PRICES ARE UP – BUT ACTIVITY’S DOWN

• • While the overall pace of townhouse sales in Manhattan slowed, activity within different price ranges and regions throughout the borough varied widely.

• • The low end of the market faced steeper sale declines compared to the high end – and while most regions had slower activity, Downtown had its highest share of sales since 2015.

• • Overall, the number of townhouse listings increased 7% annually – as fewer sales pushed up available supply.

• • Just 5% fewer transactions occurred over $5M, a lesser annual decline than the overall market at 9%… and a significant driver of the record high price statistics this year.

• • Market share of sales at the low end, particularly under $3M, reached its lowest point since 2009.

• • In contrast, the share of sales over $20M reached its second highest point since that year.

• • Median price grew 10% to exceed $5M for the second time in the past decade.  Average price also rose 10% year-over-year and average price per-square-foot was 7% higher.