NEW YORK MARKET REPORT - MAY 2019

Market Report May 2019

Manhattan

Average sales price decreased to $1,505,207 from $1,562,368
Median sales price decreased to $928,750 from $995,000
Discount from Original Asking Price increased to 11.7% from 9.0%
Discount from Last Asking Price increased to 5.6% from 4.8%
Initial Index offer increased to 5.75% from 4.20%
Transactions over $1,000,000 decreased to 44% from 49%
Median number of days on market to C/S, from last ask price remained the same at 58 days
61% of Coop Sales are financed of which 77% are contingent on financing
5% of buyers are international
23% of Coops sold at ask & above the asking price.

Average sales price increased to $3,164,222 from $2,987,829
Median sales price decreased to $1,890,000 from $1,950,000
Discount from Original Asking Price increased to 9.1% from 7.4%
Discount from Last Asking Price increased to 7.6% from 4.6%
Initial Index offer increased to 7.27% from 4.00%
Transactions over $1,000,000 decreased to 79% from 85%
Median number of days on market to C/S, from last ask price decreased to 49 from 73 days
47% of Condo Sales are financed of which 64% are contingent on financing
22% of Condo Sales are New Developments
18% of buyers are international
28% of Condos sold at ask & above the asking price.

Number of Active listings for Coops and Condos on the market increased by 4.5% from previous month.