TOWN Residential is pleased to present The Aggregate™, a quarterly analysis of the Manhattan residential real estate market. As New York’s leading fully-integrated residential real estate services firm, TOWN is a sought-after source of Manhattan neighborhood expertise spanning residential sales; leasing; and the marketing, sales, and leasing of property developments.
With The Aggregate™, TOWN presents a comprehensive report on sales behavior across distinct asset classes from April to June 2017, and compares those transaction values with quarter-over-quarter and year-over-year values.
Despite a minimal increase in median days on the market, the overall Manhattan sales market showed continued strength in sales prices on both quarterly and yearly measures. Following a nearly 10% quarter-over-quarter increase during the first quarter, the median sales price again made gains, increasing by 5.3% from $1,155,611 to $1,216,809. Year-over-year, the median sales price increased by 5.8%. Market-wide, the average sales price showed less movement from the last quarter, increasing by 2.8% to $2,279,618. Year-over-year, the average sales price registered an increase of 7%.
For the full report, click here.