Almost half the summer is over, and it’s time for a fresh report on the real estate market. And share really have something. Despite what some experts tell us to reduce offerings on the market and very protracted sale (apartment in the market can be months until you find a buyer), prices are not static and show all the new records.
How high can the prices be? Judge for yourself. According to research by Douglas Elliman, the median sales price (median sales price) of residential property in Manhattan jumped by 7,3% to 1 189 011$, while the average sales price (average sales price) increased by 7,9% to 2 037 189 dollars. And that’s a record. The number of property sales in the area also increased significantly. Only for this quarter was 3000 new owners.
Median prices for condos also reached record levels, rising 9% to 1 875 000$. «A large part of new construction, says Jonathan Miller, head of Miller Samuel Inc. And the number of sold apartments, and emerging market offerings is growing. The average sales price for all new objects increased by 22.8% to 3 306 656 dollars.»
And yet there are some signs of cooling and a lack of demand, but they concern only the upper echelon of the market — luxury real estate, where the average sale price increased by 3,5% to 6 836 269 dollars. «Sellers of luxury properties are becoming more realistic in terms of determining the price,» says Miller. This situation has led to a drop in the number of luxury apartments on the market — a trend that we have seen for some time.
The most active sales were observed in the area 15 Central Park West, One57 and Time Warner Center.
Another important indicator is that at the peak of demand at the moment, there are apartments in Manhattan at the time, as houses are bought significantly less. The most notable trend in the market of townhouses was a 50% increase in the number of days of stay of objects on the market — from 150 to 226.
