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The week in real estate market reports
A weekly feature bringing you the industry’s latest intel
Did you know that a recent report found that residential sales for both co-ops and condos slumped in January? Or that the price for new developments in Long Island City is soaring? Check out all that and more in our roundup of the past week’s real estate market reports.
Residential
Luxury sales trends: StreetEasy
The median resale price for Manhattan’s luxury homes fell 0.3 percent in December, the seventh consecutive month of price decline. Brooklyn’s luxury market is experiencing a similar fate. Read the full report here.
January 2016 Manhattan residential sales: Citi Habitats
Residential sales slowed in January in both the condo and co-op markets. Condo signings slumped 17 percent year-over-year and co-op signings fell 19 percent over last year. Read the full report here.
February 2016 LIC new development sales: Halstead Property Development Marketing
The average price per square for closed new condominium sales in Long Island City climbed 49 percent from 2010 to 2015. New development projects averaged $1,032 per square foot last year. Read the full report here.
NYC home lending: Association for Neighborhood and Housing Development, Inc.
Lending from the four major banks — Chase, Citibank, Bank of America and Wells Fargo — is steadily declining. The banks combined to provide 45 percent of loans to New York City homeowners, compared to 50 percent in 2011. Read the full report here.
Commercial
December 2015 NYC multifamily sales: Ariel Property Advisors
Multifamily sales hit $6.55 billion in December, largely on the strength of Blackstone’s $5.3 billion purchase of Stuyvesant Town — Peter Cooper Village. Excluding this sale, dollar volume was down 31 percent compared to the same period in 2014. Read the full report here.
Q4 2015 Broker confidence: REBNY
Broker confidence slipped for the the fourth consecutive quarter and commercial brokers are growing the most wary over concerns about the national and international economy. Read the full report here.