Monthly Manhattan condo sales drop

TRD New York /
Oct.October 05, 2010 12:30 PM

Condominium unit sales in Manhattan dropped 34 percent from the end of June to the end of July, the largest decline for this time of year since real estate data and analytics company Radar Logic began keeping records in 2000. The decline followed a 27 percent increase in condo sales from the end of May to the end of June, which was the largest May-to-June increase ever seen by Radar Logic, according to a company report released today. “These market dynamics were caused by a surge in condo sales at the low end of the spectrum during the month of June and a subsequent correction during July,” the report says. The Financial District experienced the highest decline in sales transactions, with a 48.7 percent decrease in July, compared to June. The East Village and Lower East Side together also saw a sharp decline of 48.3 percent in condo sales transactions between June and July. However, the third quarter overall saw an uptick in home sales activity, as a relatively slow rate of new inventory
helped drive Manhattan home prices upward, as The Real Deal reported last week. TRD

 

Related Articles

arrow_forward_ios
Home prices are on the rise, and homeowners are opting to stay in their homes longer (Credit: iStock)

Home prices accelerate nationally as owners stay longer

Realogy CEO Ryan Schneider (Credit: iStock)

Realogy’s plan to stop the iBuyers from gaining a foothold in Chicago

136 Clinton Avenue (Credit: iStock)

How to sell a haunted listing

South Florida dodged a bullet with Hurricane Dorian. Here’s what that means for the resi market

South Florida dodged a bullet with Hurricane Dorian. Here’s what that means for the resi market

Gary Keller of Keller Williams (Credit: iStock and Wikipedia)

Here’s how much it will cost you to sell your home on an iBuying site

Bringing some sunshine to South Florida’s opaque resi report outlook

Bringing some sunshine to South Florida’s opaque resi report outlook

Georgina Bloomberg and 101 Central Park West (Credit: Getty Images/StreetEasy/Wikipedia)

Georgina Bloomberg buys another co-op at 101 CPW

US home sales slide again in June as prices hit all-time high

US home sales slide again in June as prices hit all-time high

arrow_forward_ios
Loading...