Manhattan 2nd Quarter 2012 ReportWednesday, July 18th, 2012
After a steady start to 2012, Manhattan’s residential sales experienced one of their most robust quarters in years. There were 3,650 market-wide sales during the Second Quarter 2012. Aside from Second Quarter 2010, this was the highest quarterly sales figure since Second Quarter 2008.
Inventory continues its trend downward. Available listings market-wide totaled 8,060 units, a 12% decline from a year ago and 4% lower than last quarter. With limited new development properties available, condominium inventory is eroding at a steeper rate than co-op inventory; compared with a year ago, condo inventory declined 14% while co-op inventory declined 9%.
To read the entire report please follow this link.
Senior Vice President, Associate Broker
The Corcoran Group