Q2 2012 MANHATTAN MARKET REPORT HIGHLIGHTS

ricardo, Jul 14, 2012 6:22:37 PM

 

Manhattan Real Estate Market’s performance in the second quarter 2012 can be categorized as very stable, with both stable prices and activity.

The average price per square foot of a Condo increased 1.6% from the prior-year quarter. In addition, there was a shift from sales of Condos to Coops, with an overall activity being level with the prior year quarter.  With interest rates at record lows, the market saw a shift to lower priced entry-level apartments.

A major theme that continues to play out is the lack of available inventory, as Condo inventory available for sale declined by 15% over the prior-year quarter.  With the lack of new development inventory entering the market, we expect that this trend will continue and, ultimately, could cause some price action in the near future.

Luxury properties fared quite well in the quarter with price increases (the average price per square foot rose 7.4%) and stable activity. During the quarter, it was announced that the duplex penthouse at One 57 went into contract for over $90 million, the highest amount ever paid for a residence in Manhattan.

To find out more about the Manhattan Market in the second quarter, see the Manhattan Market Report.

 
 

Manhattan Real Estate Market’s performance in the second quarter 2012 can be categorized as very stable, with both stable prices and activity.

The average price per square foot of a Condo increased 1.6% from the prior-year quarter. In addition, there was a shift from sales of Condos to Coops, with an overall activity being level with the prior year quarter.  With interest rates at record lows, the market saw a shift to lower priced entry-level apartments.

A major theme that continues to play out is the lack of available inventory, as Condo inventory available for sale declined by 15% over the prior-year quarter.  With the lack of new development inventory entering the market, we expect that this trend will continue and, ultimately, could cause some price action in the near future.

Luxury properties fared quite well in the quarter with price increases (the average price per square foot rose 7.4%) and stable activity. During the quarter, it was announced that the duplex penthouse at One 57 went into contract for over $90 million, the highest amount ever paid for a residence in Manhattan.

To find out more about the Manhattan Market in the second quarter, see the Manhattan Market Report.

 
 

Manhattan Real Estate Market’s performance in the second quarter 2012 can be categorized as very stable, with both stable prices and activity.

The average price per square foot of a Condo increased 1.6% from the prior-year quarter. In addition, there was a shift from sales of Condos to Coops, with an overall activity being level with the prior year quarter.  With interest rates at record lows, the market saw a shift to lower priced entry-level apartments.

A major theme that continues to play out is the lack of available inventory, as Condo inventory available for sale declined by 15% over the prior-year quarter.  With the lack of new development inventory entering the market, we expect that this trend will continue and, ultimately, could cause some price action in the near future.

Luxury properties fared quite well in the quarter with price increases (the average price per square foot rose 7.4%) and stable activity. During the quarter, it was announced that the duplex penthouse at One 57 went into contract for over $90 million, the highest amount ever paid for a residence in Manhattan.

To find out more about the Manhattan Market in the second quarter, see the Manhattan Market Report.

   

2012년 2분기 맨하탄 부동산 시장은 매우 안정적인 흐름을 보였습니다. 가격과 부동산 매매 큰 변동 없이 안정적으로 유지되었습니다.

콘도의 평방피트당 평균 가격이 지난해 같은 시간 대비 1.6% 증가하였습니다. 또한 지난해 같은 기간에 비해 부동산 매매 물량이 콘도보다 코옵이 많았습니다. 이자율이 최저 시장 상황에서 부동산 가격대가 낮은 중소형대 아파트에 관심이 옮겨가는 모습을 보이고 있습니다.

부동산 공급 물량이 부족한 추세가 지속되면서 작년 동기 대비 콘도 매매 재고 물량이 15% 감소하였습니다. 게다가 신규 개발 프로젝트 역시 감소하면서 물량 부족 추세가 지속될 전망이며, 가까운 미래에 가격 변동이 있을 것으로 보입니다.

2분기 동안 고급 부동산 가격은 평방피트당 평균 가격이 7.4% 증가하였으며 안정적인 부동산 매매 활동을 보였습니다. 지난 2분기 One 57에 위치한 듀플렉스 펜트하우스가 9,000만 달러에 매매되면서 맨하탄 지역 최고가 부동산 위치에 올랐습니다.

2분기 맨하탄 부동산 시장에 대해 보다 자세한 내용을 보려면 맨하탄 마켓 리포트를 참조하십시오.

 


 

Manhattan Real Estate Market’s performance in the second quarter 2012 can be categorized as very stable, with both stable prices and activity.

The average price per square foot of a Condo increased 1.6% from the prior-year quarter. In addition, there was a shift from sales of Condos to Coops, with an overall activity being level with the prior year quarter.  With interest rates at record lows, the market saw a shift to lower priced entry-level apartments.

A major theme that continues to play out is the lack of available inventory, as Condo inventory available for sale declined by 15% over the prior-year quarter.  With the lack of new development inventory entering the market, we expect that this trend will continue and, ultimately, could cause some price action in the near future.

Luxury properties fared quite well in the quarter with price increases (the average price per square foot rose 7.4%) and stable activity. During the quarter, it was announced that the duplex penthouse at One 57 went into contract for over $90 million, the highest amount ever paid for a residence in Manhattan.

To find out more about the Manhattan Market in the second quarter, see the Manhattan Market Report.

 
 

Manhattan Real Estate Market’s performance in the second quarter 2012 can be categorized as very stable, with both stable prices and activity.

The average price per square foot of a Condo increased 1.6% from the prior-year quarter. In addition, there was a shift from sales of Condos to Coops, with an overall activity being level with the prior year quarter.  With interest rates at record lows, the market saw a shift to lower priced entry-level apartments.

A major theme that continues to play out is the lack of available inventory, as Condo inventory available for sale declined by 15% over the prior-year quarter.  With the lack of new development inventory entering the market, we expect that this trend will continue and, ultimately, could cause some price action in the near future.

Luxury properties fared quite well in the quarter with price increases (the average price per square foot rose 7.4%) and stable activity. During the quarter, it was announced that the duplex penthouse at One 57 went into contract for over $90 million, the highest amount ever paid for a residence in Manhattan.

To find out more about the Manhattan Market in the second quarter, see the Manhattan Market Report.

 

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