October 2016 Manhattan Residential Real Estate stats and trends

1. 11/29/2016 October 2016 Residential Market Report from Elena
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October 2016 Manhattan Residential
Market Snapshot
Manhattan Sales Market Snapshot
• Overall sales in the Manhattan condo and co­op markets were both down by
double digits compared to last year, however contract activity in both
markets improved from last month’s numbers.
• Year­over­year average price was up for condos but down for co­ops,
whereas median price declined in both markets by 15% and 5%, respectively.
• Larger bedroom types saw increases in average price per square foot in the
condo market, which brought up overall average price per square foot 13%
from last year.
• All bedroom types in the co­op market experienced very little annual
change in average price per square foot with the exception of a decline in the
two bedroom market – enough to bring down the overall price per square
foot metric 5% from last year.
• Listings are spending more time on the market than last year while
negotiability was more common. Overall listings increased year­over­year,
which contributed to the increased amount of negotiability.
Please do not hesitate to reach out if you have any questions about October
Snapshot or the Manhattan market in general. I am happy to be of assistance
to you. If you're interested in a confidential evaluation of your property,
please call or email me.
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ELENA RAVICH
Associate Real Estate Broker
Phone: 6462392527
Cell: 6462392527
Email: eravich@citihabitats.com
Real estate agents affiliated with Citi Habitats are independent contractor sales associates and are not employees of Citi Habitats. Citi Habitats is a licensed real estate
broker located at 387 Park Avenue South, NY, NY 10016. All information furnished regarding property for sale or rent or regarding financing is from sources
deemed reliable, but Citi Habitats makes no warranty or representation as to the accuracy thereof. All property information is presented subject to errors,
omissions, price changes, changed property conditions, and withdrawal of the property from the market, without notice. All dimensions provided are
approximate. To obtain exact dimensions, Citi Habitats advises you to hire a qualified architect or engineer. This is not intended to solicit property already listed.
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