TOWN Residential is pleased to share the Price Reduction Report, a detailed analysis of price reductions throughout Manhattan broken down by individual neighborhood and calculated by dollar amount, percent amount and number of days on the market.
This installment of the report examines 1,455 active listings with price reductions within the last 90 days, comprised of 811 condos, 595 co-ops, and 46 condops.
The report reveals an average dollar amount reduction of $188,629 and an average price percentage reduction of 5%.
Average days on the market this month registered at 179, compared to 170 last month. Two-bedroom apartments made up 31.5% of the total, while one-bedrooms made up 28%, remaining relatively unchanged from the last report’s analysis.
Battery Park, Lincoln Square, and the Financial District each saw an increase of 10 new listings with a price drop since June. Since June 15th, there have been 39 new listings with a price decrease.