Second Quarter Manhattan market report nuggets
3,469 closed sales [p 2 of 12 in BHS Q2 report]
3,939 closed sales, more than double the second quarter of 2006 [NY Post, quoting Miller Samuel, whose report is not yet on their website]
That is quite a spread – 13% more sales reported by Miller Samuel
Inventory of 5,237 apartments for sale in Manhattan, down 30+% from a year ago [NY Post, quoting Miller Samuel, whose report is not yet on their website], down from 5,923 reported for Q1 by Miller Samuel
“just under half” of the condo sales were new developments [p 2 of 12 in BHS Q2 report]
loft average price per foot $1,118, down from prior quarter ($1,129) but up from prior year quarter ($1,073) [Halstead Q2 report p 3 of 8]
Quite a report spread:
The four firms releasing reports today, Brown Harris Stevens, the Corcoran Group, Halstead Property, and Prudential Douglas Elliman, reported the average price a square foot of Manhattan apartments increased between 5% and 13% compared with the second quarter of 2006, and between 6% and 10% beyond the first three months of 2007.
[per NY Sun, thx to Curbed.com]
Most succinct analysis: "The story nationally is that inventory is climbing, prices are falling, and sales activity is slowing, and really on all three points, it’s the opposite picture in Manhattan," Mr. [Jonathan] Miller said.
[per NY Sun]
Just as Miller Samuel’s report for the quarter is not up on its website or on PruDE’s, the Corcoran report appears to have been released (in some form) to the press before going on its website.
© Sandy Mattingly 2007
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