Manhattan condo sales flatline: October index
Manhattan condominium sales prices in October decreased 0.1 percent from the previous month, and rose by the same amount on a year-over-year basis, according to the Streeteasy.com’s Manhattan condo market index released today.
Sales volume for condos decreased 7.9 percent compared to September and stood at exactly the same level as October 2010.
Streeteasy.com set the market index baseline of 1,000 on January 2000, and the index measures returns on Manhattan condos since that date. In October it stood at 1,891. It peaked in March 2008 at 2,164.
The best performing region in Manhattan is Downtown, where the index sits at 2,011, about 0.8 percent greater than September’s Downtown index and 2.3 percent better than a year ago in the same month.
Midtown Manhattan’s condo index remained unchanged compared to September, and fell about 0.3 percent since October 2010. Month-over-month, the index dropped 0.5 percent and 1.2 percent on the Upper West and Upper East sides, respectively. Since last October, prices on the Upper West Side have gained 3.1 percent, while prices on the Upper East side have declined 3.5 percent. — Adam Fusfeld