The week in real estate market reports: Q4 roundup

A weekly feature brining you the industry’s latest intel.

TRD New York /
Jan.January 13, 2016 04:15 PM

In the final months of 2015, market reports showed that Manhattan’s median sales price hit a record high and that office leasing activity was sluggish.

Fourth-quarter residential sales

Compass

New median price records were set Downtown, on the Upper West Side, Midtown East and Midtown West. Also, nearly 24 percent of all residential inventory was priced over $3 million. Read the full report here.

Douglas Elliman

Manhattan’s median sales price reached a record high of $1.15 million, a 17 percent jump from the previous quarter and the highest price in 27 years. Read the full report here.

BOND New York

The number of pending sales grew slightly from the third quarter while the number of properties sold was down quarter-over-quarter and year-over-year. Read the full report here.

Brown Harris Stevens

Average and median priest set new records in the final quarter. Condos represented 50 percent of all sales, the highest level since the first quarter of 2009. Read the full report here.

Fourth-quarter office leasing

Newmark Grubb Knight Frank

Manhattan leasing activity slowed in the final months of the year. Tenants signed leases for 36.2 million square feet, a 13 percent decline from last year. Read the full report here.

Colliers International

Leasing activity may have slowed in the final three months, but the office market ended above the 10-year average. Class A asking rents averaged $75.49 per square foot and were highest in Chelsea at $115.79 per square foot.

ABS Partners Real Estate

Rental rates were down for the first time in 2015, and Midtown South saw the sharpest decline in asking rents. Read the full report here.

JLL

Tech leasing leveled off in 2015, after reaching peak levels in 2014. Average rents in Midtown South, an area largely home to tech tenants, are at an all-time high and available space is limited. Read the full report here.

To view more market reports, check out the new TRData page.


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