The 4th QTR Corcoran Report at a Glance

New Yorkers can put their real estate fears away for a while. Here are some key bullet points. If you would like to download the full report click link below.

· Market-wide sales in the Fourth Quarter increased 20% vs. Fourth Quarter 2011

· Market responds with a market-wide median price increase of 8% vs Fourth Quarter 2012

· Average Price per square foot rose 2% from last quarter and 3% from Fourth quarter 2012 to $1,076/sqft.

· 23% of sales took place in the $0-$500K range.

· 38% of sales took place in the $500k-$1MM range.

· 21% of sales took place in the $1MM-$2MM range.

· 9% of sales took place in the $2MM-$3MM range.

· 6% of sales took place in the $3MM-$5MM range.

· 4% of sales took place in the $5MM+ range.

· Inventory decreased 16% versus a year ago and 9% versus last quarter.

· Average Co-op sale price market wide $1,156,000 w/ 3 bedroom average of $2,636,000

· Average Condo sale price market wide $1,740,000 w/ 3 bedroom average of $3,500,000

· Average price per square foot in the luxury sector (all units above $5MM) exceeded $2,000/sf up 7% from last quarter and 4% from last year.

· Townhouse prices went through the roof with several sales over $20MM on the upper east side. The East Side saw a 63% increase in average price from last year and 64% from last quarter. Downtown average increased year over year by 40% with a number of sales over $10MM in Greenwich Village. Westside average declined however -35% quarter to quarter and -43% year over year.
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