The week in real estate market reports

A weekly feature bringing you the industry’s latest intel

New York /
May.May 06, 2015 02:50 PM
 

The latest batch of reports from around the industry found that broker confidence fell slightly in the first quarter of the year and new development condo prices are up 50 percent from 2013.

Residential

Q1 2015 NYC multifamily sales: Ariel Property Advisors

Multifamily sales in New York City hit $3.3 billion in the first quarter of 2015, with sales in Manhattan and Brooklyn each exceeding $1 billion. According to a new quarterly report from Ariel Property Advisors, dollar volume for multifamily sales was up 6 percent year-over-year. View the full report here.

Manhattan new developments: CityRealty

New development prices in Manhattan are up 50 percent from 2013, according to a report from CityRealty. Sales of new condominium developments from 2015 and 2019 are expected to total between $27.6 billion and $33.6 billion. The average price for a new development is expected to rise to $5.9 million in 2015, an increase from $4.8 million last year. View the full report here.

Manhattan luxury contracts April 20-26

Forty-one contracts were signed in the third week of April for Manhattan apartments priced at $4 million and above, the highest year-to-date, according to the Olshan Luxury Market Report. Although the number of condo contracts signed surpassed co-ops, it was the highest number of co-op contracts signed since December. View the full report here.

Other

Q1 2015 Real estate broker confidence Index: REBNY

Broker confidence fell slightly in the first quarter of 2015, although confidence remained largely positive, according to the latest broker confidence index from REBNY. Commercial brokers cited financing as their primary concern, while residential brokers were mostly concerned with lack of inventory in the market. View the full report here.

NYC construction spending: New York Building Congress

Spending on residential construction reached an all-time high of nearly $12 billion in 2014, a 73 percent increase year-over-year, according to a report from New York Building Congress. Overall construction spending hit $36 billion in 2014, up 26 percent from 2013. View the full report here.


Related Articles

arrow_forward_ios
The Georgetown house once owned by Julia Child (Zillow)
Georgetown home where Julia Child lived hits market for $3.5 million
Georgetown home where Julia Child lived hits market for $3.5 million
RE/MAX reaches record revenue of $91M with $25M net loss
Despite hot market and revenue growth, RE/MAX loses $25M
Despite hot market and revenue growth, RE/MAX loses $25M
Zillow selling half of iBought homes, will buy back $750M shares
Zillow selling half of iBought homes, will buy back $750M shares
Zillow selling half of iBought homes, will buy back $750M shares
(Getty)
Weekly home listings hit record low
Weekly home listings hit record low
Alexanders will be metaverse’s first luxury brokers
Alexanders will be metaverse’s first luxury brokers
Alexanders will be metaverse’s first luxury brokers
Richard Lampen and Howard Lorber
Public relations: What’s next for an independent Douglas Elliman?
Public relations: What’s next for an independent Douglas Elliman?
More contracts signed in the city for more expensive homes (iStock)
Manhattan condo signings jump 65% in November, led by priciest homes
Manhattan condo signings jump 65% in November, led by priciest homes
Skyline Tower in Long Island City and 200 East 83rd Street (Hill West, Rockefeller Group)
Manhattan logs busiest month for new development sales since April
Manhattan logs busiest month for new development sales since April
arrow_forward_ios

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

Loading...