With 1.4 percent drop, Manhattan condo prices see biggest month-to-month decline in four years

But dip from March numbers follows record 2013, strong start to 2014

Midtown Manhattan
Midtown Manhattan

Manhattan condominium prices registered their biggest month-to-month decrease in almost four years in April, according to a new report from StreetEasy. The median condo price in the month fell 1.4 percent, compared to March. That put the median price at $1.3 million. The median price per square foot stood at $1,339.

The StreetEasy report says the dip may be a sign prices are set to fall a bit, or at least stabilize after the New York market broke records last year.

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The modest decline from March’s numbers could be attributed, however, to the particularly strong start for condo sales in the first quarter of the year.

One worrying sign, however: the data also shows a growing gap between prices sellers are seeking and the amount buyers are willing to pay, according to a DNAinfo report on the StreetEasy data.

About 59 percent of searches on StreetEasy were conducted for mid-priced and low-cost condos, DNAinfo notes. However, almost half of condos on the market are listed in the top tier of $1.9 million or more. [DNAinfo]Tom DiChristopher