New York Apartment Prices Q4, 2018
Posted by Wei Min Tan on January 3, 2019
New York property report: Q4 Manhattan condo market
- According to the Miller Samuel/Elliman Report, sales volume of Manhattan condos was down 13 percent compared to year ago, and down 23 percent compared to Q3. Median price at $1.479 million was down 9.5 percent. These metrics reflect the correction and downturn of the Manhattan market in 2018.
- Average price was $2.96 million, up 11.6 percent vs year ago, and up 11.3 percent from Q3.
- Price per square foot was $2,152, up 9.5 percent from a year ago.
New York (Manhattan) Q4, 2018 Condo:
Average price $2.96m (+11.6% vs prior year)
Avg price per SF $2,152 (+9.5%)
Transactions 1,020 (-13%)
Days on market 106 (-8.6%)
Residential Rents Nov 2018:
Average Rent $4,151 (+1.5% vs prior year)
Rent per sqft $67.75 (+4.7%)
The luxury property market, defined by Miller Samuel as the top 10 percent of sales.
Median price $6.31m (+10.3%)
Avg price per SF $2,892 (+10.0%)
Transactions 244 (-3.2%)
Days on market 115 (-25.3%)
Data Source: Miller Samuel and Elliman Report