The Real Deal New York

The week in real estate market reports

A weekly feature bringing you the industry’s latest intel
By Kyna Doles | April 29, 2015 02:45PM

The latest batch of reports from around the industry found that the price for a Queens home is up more than 20 percent from last year and inventory for Manhattan apartments fell to its lowest level in five years.

Residential

Q1 2015 LIC and Astoria residential: Modern Spaces

Condominium sales in Long Island City broke the $1,000 per square foot mark in the first quarter of 2015, and the price for a condo averaged $877,778 during this period, according to a report from Modern Spaces. During the same time last year, the average price per square foot was $930. View the full report here.

Q1 2015 Manhattan residential sales: Streeteasy

Inventory for Manhattan homes fell to its lowest level since 2010 in the first quarter of 2015, according to a report from Streeteasy. Home sales were down 2.3 percent year-over-year and fell 0.6 percent from the previous quarter. View the full report here.

Q1 Manhattan residential sales: Douglas Elliman

The median sales price for a Manhattan apartment remained relatively unchanged at $970,000 in the first quarter of 2015, according to a report from Douglas Elliman. Prices were down 0.2 percent year-over-year and fell 1 percent from the previous quarter. View the full report here.

Q1 Brooklyn residential sales: Douglas Elliman

Home prices continue to climb in Brooklyn, with the median sales price in the neighborhood up 17.5 percent year-over-year to $610,894 in the first quarter of 2015, according to a report from Douglas Elliman. View the full report here.

Q1 Queens residential sales: Douglas Elliman

The Queens housing market remained strong in the first quarter of 2015, with the median sales price at $446,434, a 20.7 percent increase year-over-year and 3.7 percent higher than the previous quarter, according to a report from Douglas Elliman. View the full report here.

Manhattan luxury contracts April 13-19

Thirty-two contracts were signed during the second week of April for Manhattan apartments priced $4 million and above, according to the Olshan Luxury Market Report. The week’s priciest contract signed was for a $39.5 million penthouse at 737 Park Avenue. A contract signed for $18.5 million at 45 Central Park West was the second most expensive. View the full report here.