Market Report May 2019

Manhattan

May ’19 vs May ‘18

COOPS YEAR OVER YEAR                           

• 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.

CONDOS YEAR OVER YEAR

• 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.