EXECUTIVE SUMMARY 2nd Quarter 2007 Manhattan The median sales price for an apartment (cooperatives and condominiums) increased 10% to $790,000, compared to $718,000 during the second quarter 2006. The average sales price for a cooperative was $1,016.000, down 3% from last year's second quarter. The average condominium unit sales price was up 10% to $1,379,000, compared to second quarter last year. Major Market Areas Downtown apartments (cooperatives and condominiums) saw their median sales price increase 24% to $914,000, and their average sales price increase 21% to $1,360.000. compared to the second quarter 2006. The East Side reported the highest average sales price for both cooperatives and condominiums at $1,350.000 and $1,514,000, respectively. Downtown recorded the highest percentage rise in median sales price for condominiums at 33%. Mid-Manhattan had the highest percentage change in the median sales price for cooperatives at 12%. Price Analysis Manhattan apartment units reported a 5% increase in the average sales price per square foot (psf to $1,083 and a 8% rise in the median price psf to $1,033. compared to second quarter 2006. West Side apartments had the highest average price psf of $1,136, nearly unchanged from a year ago. Downtown apartments had the next highest average price psf at S1,128, up 11% from the second quarter of last year. Northern Manhattan recorded the largest percentage increase in average price psf for condominiums at 23%, compared to second quarter 2006. Mid-Manhattan had the highest percentage increase in average price psf for cooperatives at 7%.
MANHATTAN RESIDENTIAL SALES REPORT EXECUTIVE SUMMARY 1st Quarter 2007 New York City The average sales price for a New York City apartment (cooperatives and condominiums) in the first quarter 2007 was $745,000, a 23% increase compared to $605,000 during the first quarter 2006. The average price per square foot (ps! for a cooperative was $664. a rise of 7% from $622 during last year's first quarter. The average price psf for a condominium rose by 19% to $791, compared to $664 last year One to three family dwellings in New York City recorded an average sales price of $595,000, a 7% increase compared to last year's average of $554,000. Apartments Manhattan had the highest average sales price of apartments at S1,107,000. Brooklyn was second at $441,000, and Queens followed at $257,000. The average price psf for a Manhattan apartment increased 3% to $1,013 compared to last year Brooklyn and Queens recorded the next highest prices psf for an apartment at $476 and $348, respectively. While the median sales price for a cooperative showed little change in each of the boroughs, the median sales price for a condominium increased in all five boroughs. The Bronx and Manhattan showed the highest percentage increases at 17% and 10%, respectively. One - Three Family Dwelling Manhattan recorded the highest average price of one to three family dwellings at $3,942,000. Brooklyn registered the next highest average sales price at $643,000. Queens followed with an average sales price of $580.000. All five boroughs recorded a percentage increase in the average sales price of a one to three family dwelling. Manhattan led the way at 16%, followed by Brooklyn and the Bronx at 7%, Queens at 4%, and Staten Island at 3%.
EXECUTIVE SUMMARY 4th Quarter 2006 Manhattan The median sales price for an apartment (cooperatives and condominiums) increased 11% to $735,000, compared to the first quarter 2006. The average sales price for a cooperative unit rose 5% to $940,000, compared to the fourth quarter of last year. The average condominium unit sales price was up 3% to $1,280,000 from last years fourth quarter. Mid-Manhattan apartments (cooperatives and condominiums) saw their median price increase 16% to $729,000, and their average sales price increase 20% to $1,000,000, compared to the first quarter 2006. The East Side reported the highest average sales price for both cooperatives and condominiums at $1,349,000 and $1,425.000. respectively. Northern Manhattan recorded the highest percentage rise in average sales price for condominiums at 16%. as well as for cooperatives at 50%. Manhattan apartment units reported a 3% increase in the average sales price per square foot (psi) to $1,013 and a 4% rise in the median price psf to $967, compared to first quarter 2006. West Side apartments had the highest average price psf of $1,067. East Side apartments had the next highest average price psf at $1,052. Both represented increase from the first quarter of last year. Northern Manhattan recorded the largest percentage increase in average price psf for both cooperatives and condominiums at 29% and 21%, respectively.
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