30 days of actual Manhattan loft sales, from February 11

 

I captured 30 days of reported Manhattan "loft" sales from the inter-firm data-base on February 11, comprising a third set of 30-day-sales data. The limitations, cautions, gripes and hopes set forth in my initial collection (December 18: hard data is hard to find … here’s some on 30 days of actual loft sales) all still apply. The second set was as of January 11, posted January 18: 30 days of actual Manhattan loft sales, Vol 2.

top line numbers are 13 and 21
For the 30 days prior to February 11, 2009 our inter-firm data base reported as Sold and Closed Manhattan "lofts" 13 resales and 21 developer/sponsor sales in new developments, compared to the 22 and 28 reported in January, and the 24 and 19 reported in December.

 

Once again, I am reluctant to do too much parsing of such limited data, but the median price-per-foot for the 13 resales was $1,015/ft. On the other hand the average was $1,007/ft for the 13 resales, compared to $1,104/ft last time and $1,170/ft in December. For new developments, I can compute median and average per-foot numbers (for 19 sales) as $1,306 and $1,567/ft (compared to $1,183/ft and $1,258/ft in January, and $1,272/ft and $1,269/ft, respectively, in December). 

I still think that the most interesting current "days on market" number is the spread between when an apartment came to market and when it got into a contract that (later) actually transferred title. I get a median Days Until Contract for (12) resales of 115 days or 120 days (or their average, darn those even numbers of data points) with a range of 29 days to 666 days, and an average for resales of 156 (compared to January’s 170 days and December’s 179 days). For new developments, the spread is again from the ridiculous (584 days to contract) to the sublime (zero days; that would be signed contracts on lofts released just for that buyer), with a median of 38 and an average of 137 days (much lower than January’s avergae of 194 and December’s average of 147 days).

google = smart
The raw data is on-line here.

limited history, so limited commentary, but an improvement
With only three sets of 30-day-sales-data, there is not much to say that will be very insightful (or valid). That should change, going forward with more data sets.

 

One thing that has improved is that I have added some closings to the prior collections, from January 11 and December 11. As I have mentioned, the data set starts from an agent updating the inter-firm data-base to reflect that a loft has sold. In the all-too-frequent instances when the update is tardy, that sale does not qualify for my last-30-days set. But this tiem, when I noted a clsoing that shoudl have been included in either the December 11 collection or the January 11 collection, I have updated those spreadsheets. (In other words, the spreasdsheets are dynamic, so check back on them to find better [more complete] data.)