CityRealty's monthly rundown of the Manhattan residential real estate market.
The average price of a condo was $3.2 million and the average price of a co-op was $1.3 million. There were 397 condo sales and 421 co-op sales.
While the average price for Manhattan apartments rose in the four weeks leading up to March 1, the number of sales fell for the second month in a row. The average price for an apartment—taking into account both condo and co-op sales—was $2.3 million, up from $2.1 million the preceding month. The number of recorded sales, 818, represented a drop from the 894 recorded in the preceding month and was down substantially from the 1,020 recorded two months ago.
Downtown was the highest-grossing region in Manhattan, with $575 million in condominium sales. Midtown was the second highest-grossing area, with $278 million in sales. Downtown also had the highest price/ft2, $2,228, and Midtown the second-highest, $1,916.
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