The average sales price of a Manhattan apartment fell substantially in the four weeks leading up to February 1, and the total number of sales also dipped. The average price for an apartment—taking into account both condo and co-op sales—was $1.9 million, down from $2.3 million the prior month. The number of recorded sales, 779, also represented a decrease from the 884 recorded the preceding month.
The average price of a condo was $2.8 million and the average price of a co-op was $1.3 million. There were 331 condo sales and 448 co-op sales.
30-Day Total Sales by Region
Downtown was the highest-grossing region in Manhattan, with $404 million in condominium sales. The Upper West Side was the second highest-grossing area, with $185 million in sales. Downtown also had the highest price/ft2, $1,954/ft2, while the Upper West Side had the second-highest, $1,901/ft2.
Downtown was the highest-grossing region in Manhattan, with $404 million in condominium sales. The Upper West Side was the second highest-grossing area, with $185 million in sales. Downtown also had the highest price/ft2, $1,954/ft2, while the Upper West Side had the second-highest, $1,901/ft2.
NEW DEVELOPMENTS VS ALL OTHER CONDOS:
New development condo prices averaged $2,123/ft2 this month, compared to $1,783/ft2 for non-new development condominium sales. The number of sales was down this month—68, as compared to 88 in the prior month—as were the average price and price/ft2. The average price, $3.6 million, was down from $6.9 million in the preceding month. The price/ft2 of new apartments was down 17% from the prior month and 14% from a year ago. The aggregate sales total of new developments was $247 million.
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