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Manhattan Trends:
- Prices rose in all measures versus last year, with the average price for a condo up 35%, and co-ops 32%.
- While prices in August 2014 were atypically low, the significant price increase relative to last year is largely explained by a jump in the proportion of sales over $3MM. Sales over $3MM represented 18% of total sales this month, relative to 14% in July 2015 and just 8% in August 2014.
- At 5,012 listings, total inventory is at its lowest point since December 2013.
Brooklyn Trends:
- Brooklyn median and average sale price both continued to grow in August, increasing 18% and 3% year-over year, respectively.
- Total available inventory in Brooklyn increased 6% year-over-year, to 4,645 units.
- August experienced an increase in average days on market of 35% year-over-year and a 41% month-over-month.
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Filed under: Featured, Home Buyers and Sellers Tagged: manhattan apartment, manhattan co-op, Manhattan condo, Manhattan Real estate, New York city apartment, New York City Real estate
