Manhattan condo inventory on the upswing

New York /
Nov.November 15, 2012 11:00 AM

Sales inventory in new development projects across Manhattan, Brooklyn and Queens was down year-over-year in October, Crain’s reported, citing a Streeteasy.com report. But the number of these listings in Manhattan is on the upswing — rising more than 10 percent in the pat six months — even as they continue to fall in Queens and Brooklyn.

The inventory declines have increased prices, however. Broken down by borough, Brooklyn saw a 52.7 percent year-over-year fall in inventory to 276 from 583 a year earlier. In Queens the number declined 52.6 percent year-over-year to 108 from 228.

All three boroughs have seen a rise in median listing price. Manhattan’s median listing price last month ticked in at $1.55 million, a 3.5 percent gain over the last six months and 11.5 percent up over the last year. Queens saw a similar year-over-year gain of 11.4 percent, bringing the median listing price to $667,000. Lagging slightly behind was Brooklyn, where median prices rose 9.4 percent year-over-year to $699,000. [Crain’s]Zachary Kussin


Related Articles

arrow_forward_ios
Savanna’s Christopher Schlank and Nicholas Bienstock with a rendering of 141 Willoughby Street (Savanna; SLCE Architects; Fogarty Finger Architects)
Savanna nabs $264M loan for Downtown Brooklyn office project
Savanna nabs $264M loan for Downtown Brooklyn office project
The Penthouse at 60 Broadway in Williamsburg. (Compass)
Brooklyn sees 41 luxury deals inked last week
Brooklyn sees 41 luxury deals inked last week
From left: 944 Fifth Avenue, 67-69 East 93rd Street and 15 East 88th Street (Google Maps)
Three Manhattan sellers aim high asking $25M+ for luxury pads
Three Manhattan sellers aim high asking $25M+ for luxury pads
626 Lafayette Avenue in Bedford-Stuyvesant and 23-14 96th Street in East Elmhurst (Google Maps)
Two landlords hit with big fines for SROs, resi additions
Two landlords hit with big fines for SROs, resi additions
From left: 909 Third Avenue, 79 Fifth Avenue, 240 West 37th Street and 27 East 62nd Street (VNO, Cercone Exterior Restoration, Google Maps)
These were the largest Manhattan real estate loans in April
These were the largest Manhattan real estate loans in April
Brad Lander is now working to organize a meeting of all tenants to protest Greenbrook. (Getty)
Park Slope tenants fight landlord’s order to vacate
Park Slope tenants fight landlord’s order to vacate
Quay Tower at 50 Park Drive and Ryan Serhant (ODA, Getty)
Ryan Serhant’s brokerage takes over sales at Brooklyn Bridge Park condo
Ryan Serhant’s brokerage takes over sales at Brooklyn Bridge Park condo
Maverick Real Estate Partners principal David Aviram and the buildings to be sold. (Rosewood Realty Group)
Part of Chaskiel Strulovitch’s Brooklyn portfolio to be sold at auction
Part of Chaskiel Strulovitch’s Brooklyn portfolio to be sold at auction
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...