Once again, a new month brings us the opportunity to reconsider the residential real estate market in this fine city we call home. Today, we have at our disposal the quartet of quarterly market reports from our friends at the big NYC real estate brokerages, all showing more or less the same trends: average Manhattan sales prices up (to ~$1.3 million), median prices up (to ~$900,000). Fueling the boost has been fast turnover, low inventory, and the continuing hotness of condo deals, which have seen prices rise even as co-op prices have fallen slightly. Brooklyn prices, by comparison, were flat to down in the same timeframe.
We'll dig into the reports in more detail—and the emerging trend of the too-tony co-op—once all the reports are in our hands, but for now, how do these go-go statistics reflect what you're seeing in the marketplace? Let us know what you think. As ever, detailed reports in the comments, please.
· Co-ops Slip, but Condos Lead Rise in Manhattan Apartment Prices [NYTimes]
· Wall Street Fuels Run in Apartment Sales [NYPost]
· Weak Dollar Fuels City Real Estate [NYSun]
· Curbed Roundtable: June State o' the Market Report [Curbed]