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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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Gene Mundt's profile photoJeff Dowler's profile photoChris Dowell's profile photoMitchell Hall's profile photo
9 comments
 
Good to see the Manhattan real estate market is alive and kicking...a lot!
 
Good on many levels, +Mitchell Hall ... good for the residents and businesses ... including you!
 
Happy New Year Jeff and Gene! It feels like 2005 out there ,-)
 
How is the market in Kansas? I'm in Kansas. 
 
Nice to read that the market in Manhattan is getting much stronger. 
 
Hey Mitchell, I'm here in NYC.
Will you be going to Inman Connect or Agent Reboot?
Would love to see ya :-)
 
Hey Brad, I'm so busy tomorrow. Are there any parties or evening events?
 
I'm not sure of my schedule or all the events happening, but I'll be speaking today at the Inman Agent Reboot at 1pm EST. Stay tuned into SMM for updates and events etc.
 
OK, Thanks good luck toady, I may be able to get over there later this afternoon. SMM? on twitter?
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