Manhattan Q4 Report
It is my pleasure to share our Q4 2015 Manhattan Market Report with you. The year-end was very busy for me personally, with 5 deals going into contract in the last quarter. While prices have continued to rise, much of this was due to closings in the high-end luxury market. Personally, I saw a flattening of prices in several submarkets, particularly in Brooklyn, that had previously been rising steeply. - The median price for a Manhattan property surged to $1.2M during the fourth quarter - Four major submarkets set record median prices: the Upper West Side, Downtown, Midtown East, and Midtown West - Properties spent an average of 48 days on the market, while total supply measured 6.8 months
I hope that you find these key takeaways useful and enjoy reading the full analysis in this quarter’s report. I welcome your comments and look forward to speaking with you soon about the NYC real estate market or process.