bio: peter comitini »

market knowledge
Manhattan market report »
townhouse report »

follow peter comitini

peter's newsletter
sign-up here »

the topics
blogs & sites
design
downtown
economy
for sale or rent
green city
headroom
market reports
professional
property geek
questions & answers
tips for buyers
tips for sellers
videos
newsreal bookmarks
peter's photos


real estate services
home page
selling your property
buying a home
browse listings
recent press
contact peter


recommended
design & ideas
green design
neighborhoods
nyc resources
real estate
real estate: overseas

the archives
April 2014
November 2013
April 2013
February 2013
January 2013
June 2012
April 2012
March 2012
February 2012
January 2012
December 2011
July 2011
February 2011
January 2011
December 2010
October 2010
July 2010
June 2010
May 2010
February 2010
January 2010
December 2009
October 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008
September 2008
August 2008
July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
all archives

April 2009

April 27, 2009

March 2009 Real Estate Sales Snapshot of Manhattan

Wow, it seems like just a moment ago I posted the first quarter market report of sold and closed properties. Today I'm posting a new set of metrics for last month's deals providing readers with an up-to-the-minute snapshot of the Manhattan marketplace now. Unlike the closed sales data which typically lags the market by 90 days or more, this data is based on Corcoran's proprietary data of deals which went to contract in arms length negotiations in the month of March.

more »

April 7, 2009

First quarter 2009 Manhattan Market report shows a slow down in transactions and re-sale price declines of 8%

It shows both median apartment prices and average price per square foot down 8% from a year earlier. However the market snapshot we published last month on contracts signed in the same period paints a different picture. The reason is that the sold & closed deal figures, show the market negotiated three or four months prior. As 2009 has unfolded, we have noticed even greater price reductions in the market and more negotiability than is reflected in the Corcoran Report; in February, sellers lowered their asking prices by an average of 9% and negotiated another 10% from the revised ask before a contract was signed. The aggregate difference between original listing price and selling price in February was somewhere around -19%; it was about -4% in 2008.

more »