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Manhattan Trends:
- Listed inventory continued the trend of annual increases, as both condos and co-ops saw year-over-year gains.
- Average price-per-square-foot rose for both condos and co-ops, surpassing $2,000 per-square-foot for condos, an unusually high figure.
- However, the good news is most price metrics saw increases, as average sale price jumped for condos and co-ops… while median price grew for co-ops alone.
- The number of contracts signed in January was down again, following already low sales activity in December.
- However, the good news is most price metrics saw increases, as average sale price jumped for condos and co-ops… while median price grew for co-ops alone.
- Average price-per-square-foot rose for both condos and co-ops, surpassing $2,000 per-square-foot for condos, an unusually high figure.
- Days on the market increased by double-digits for both condos and co-ops, as average days on market for condos approached half a year.
- Negotiability increased for both product types, as the spread from last ask to sale in January was 4% for condos and 2.5% for co-ops.
Brooklyn Trends:
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- The difference from last asking price to sale price was 1.5% below the average asking price, an improvement from a year ago.
- Average price-per-square-foot was $807, up 3% year-over-year as all but two-bedrooms had price-per-square-foot increases.
- While the median sale price figure increased 5%, the average sale price decreased 8% versus January 2017. However, this stat was skewed by a $12.9MM townhouse sale in Brooklyn Heights last year.
- During January, the Brooklyn market experienced an increase in contracts signed, up 10% versus last year – driven by strong sales at recently-launched new developments.
- January’s average days on market figure of 88, while lower than the previous month, was skewed by a few homes selling after sitting on the market for almost a year.
- While the median sale price figure increased 5%, the average sale price decreased 8% versus January 2017. However, this stat was skewed by a $12.9MM townhouse sale in Brooklyn Heights last year.
- Average price-per-square-foot was $807, up 3% year-over-year as all but two-bedrooms had price-per-square-foot increases.
- The difference from last asking price to sale price was 1.5% below the average asking price, an improvement from a year ago.
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