New York Apartment Prices Q2, 2018

Posted by Wei Min Tan on July 24, 2018

New York property report:  Q2 Manhattan condo market

  • According to Miller Samuel/Elliman Report, sales volume was down 17 percent compared to year ago, but climbed up 24 percent compared to Q1
  • Average price was $2.97 million, down 5 percent vs year ago, but up 11 percent from Q1
  • Price per square foot was $2,115, flat to year ago


New york property report

New York (Manhattan) Q2, 2018 Condo:

Average price                        $2.97m (-4.9% vs prior year)

Avg price per SF                   $2,115 (+0.7%)

Transactions                          1,174 (-20.6%)

Days on market                       121 (-10.4%)


Residential Rents May 2018:

Average Rent                        $4,230 (+0.5% vs prior year)

Rent per sqft                          $68.48 (+2.3%)

Luxury property:

The luxury property market, defined by Miller Samuel as the top 10 percent of sales.

Median price                         $6.559m (-4.1%)

Avg price per SF                   $2,899 (-4.5%)

Transactions                             263 (-16.8%)

Days on market                         184 (-20.3%)

Data Source:    Miller Samuel and Elliman Report 


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Wei Min Tan is a property broker focusing on Manhattan, New York luxury condominiums and foreign buyers. He is often interviewed by the media including CNN, The New York Times and The Wall Street Journal on the subject of foreign buyers of Manhattan property.