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Monday, February 8, 2010

Manhattan Residential Market Snapshot January 2010

Posted by Peter Comitini

Manhattan real estate market report» download the complete report as a pdf (156 kb) Here is a snapshot of the Manhattan real estate marketplace as 2009 begins, based on Corcoran's "in contract" sales data. We report that, "Marketwide sales activity slowed in January compared to December 2009. However, condominium sales are up 110% and co-op sales are up 118% versus January 2009. As is typical at this time of year, listed available inventory increased slightly this month as sellers relist their apartments in hopes of striking a deal after the holiday season. Available inventory is still far below levels seen a year ago. In January, the pricing disparity between buyers and sellers continued to close. The discounts this month were among the mildest in over a year. Buyers are typically able to obtain larger discounts for more expensive properties."

click on section below to enlarge
Marketwide sales activity slowed in January compared to December 2009. However, condominium sales are up 110% versus January 2009.
click on section below to enlarge
co-op sales are up 118% versus January 2009.
click on section below to enlarge
As is typical at this time of year, listed available inventory increased slightly this month as sellers relist their apartments in hopes of striking a deal after the holiday season. Available inventory is still far below levels seen a year ago. In January, the pricing disparity between buyers and sellers continued to close. The discounts this month were among the mildest in over a year. Buyers are typically able to obtain larger discounts for more expensive properties.

» download the complete January snapshot as a pdf (156 kb)
» download the fourth quarter 2009 manhattan market report

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