StreetEasy Market Reports
Q1 2014 STREETEASY MANHATTAN MARKET REPORT:
Manhattan Buyers Face Tightest Inventory Since 2007, Condo Prices Surge Against Limited Supply
Median Recorded Sale Price increased to $900,000 in Q1 2014, up 6.5% since last quarter and 16.9% year-over-year.
Total Inventory fell 13.0% since Q1 2013 and by 1.0% compared to the previous quarter. This is the lowest inventory level since Q4 2007.
Contract Activity decreased by 9.3 percent since Q4 2013, and 15.2 percent year-over-year.
Time on Market was 89 days on average in Q1 2014, a 35.2% decrease compared to 137 days last year and the lowest average since StreetEasy began tracking this data in 1995.
StreetEasy Condo Market Index for February 2014 increased by 2.6% since January and by 16.3% since February 2013. The index is currently at its all-time high.Get the full report in PDF format
Luck of the Irish: St. Patrick’s Parade Route Houses Priciest Real Estate
Everything is big in New York City, and celebrating St. Patrick’s Day isn’t any different. Whether you’re of Irish descent or not, every year New Yorkers dust off their green attire, flock to their favorite Irish pubs for a Guinness and, most importantly, wander to Fifth Ave. to catch the famous St. Patrick’s Day parade. With St. Patrick’s Day right around the corner, StreetEasy decided to crunch some numbers and find out if the luck of the Irish had any connection to real estate. This year, we compared median sale prices of homes along three of the city’s biggest parade routes to see which boasted the priciest real estate. At a median sale price of $3.7 million, the St. Patrick's Day Parade comes out on top, followed by the Thanksgiving Day Parade ($2.0 million) and the Gay Pride March ($1.6 million).
Want to snag your own pad to view the St. Patrick’s Day Parade? Check out our favorite homes for sale along the parade route.
One Year After Sandy - A Special Report
We were there a year ago when Superstorm Sandy hit New York City leaving hundreds of thousands of New Yorkers without power, flooding subway stations and tunnels, closing the New York Stock Exchange for two days, as well as creating a gas shortage for the first time in decades. Damages had been estimated to be approximately $18 billion. With loss of electricity, running water, and heat, thousands of residents and businesses were displaced in the aftermath of Sandy.
Today, StreetEasy is proud to release our one-year anniversary report as we look back on the New York City real estate market after Superstorm Sandy, entitled, “A Tale of Two Recoveries.” The report provides a unique look at how quickly the NYC real estate market reacted, how quickly it recovered and by how much by looking at closings, sales listings and rental listings data.
Get the full report in PDF format
New Development Market Report
- Median listing price increased 5.8% since six months ago and by 9.5% since a year ago.
- Overall inventory has declined by 20.7% compared to six months ago and by 27.5% since last year. The Upper West and Upper Manhattan had the biggest declines in inventory.
- There were 26.1% fewer new contracts compared to six months ago but 21.4% more since a year ago.
Brooklyn & Queens
- In Brooklyn, contracts have decreased 27.6% since six months ago and by 19.2% since last year. Inventory has declined 34.4% since six months ago and by 49.9% since a year ago.
- In Queens, the median listing price is now $660,000 which is 1.3% lower than six months ago and 3.3% higher than a year ago. Inventory declined by 58.5% since six months ago and by 64.3% since a year ago.
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