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The week in real estate market reports
A weekly feature bringing you the industry’s latest intel.
The latest batch of reports found that the median price for NYC apartments reached a new record high (yes, again!) and a flurry of new residential development permits were filed in August.
Residential
September 2015 residential sales: CityRealty
The average price for a Manhattan apartment remained unchanged at $1.8 million in July, compared to the previous month. Sales from 1,076 units totaled $2 billion for the month. Read the full report here.
September 2015 national median rents: Zumper
New York City reached a record high median price of $3,160 for a one-bedroom apartment. Prices are up 5.3 percent year-over-year. The city comes second behind San Francisco, which has the nation’s priciest median rent of $3,530. Read the full report here.
Manhattan luxury contracts August 24- 30: Olshan Realty
A total of 22 contracts were signed in the final week of August for Manhattan apartments priced $4 million and above, including a $20 million townhouse at 24 West 11th Street. Asking prices totaled $176.4 million and averaged $8 million. Read the full report here.
Other
August 2015 DOB permits: The Real Deal
August was the busiest month for new residential developments since March. Permits were filed last month for 44 new residential buildings, including 3,480 units and more than 4 million square feet. Read the full story here.
July 2015 new building permits: U.S. Census Bureau
The number of new housing permits in July fell 90 percent from the previous month, after demand for 421a tax abatements tapered off. A total of 17,786 permits were filed in July, and 43,783 were filed since January. Read the full story here.