StreetEasy Market Reports
Manhattan, 4th Quarter of 2013
Summary of findings in 2013 Q4
Manhattan Condo Market Index for November 2013 increased by 1.0% since October and by 12.0% since November 2012. The index is currently at its all-time high.
Total Inventory decreased by 8.9% since Q3 2013 and by 8.7% since Q4 2012.
Signed contracts decreased by 5.5% since Q3 2013, but increased by 10.4% since Q4 2012.
Price cuts, as a share of all available listings for co-ops and condos, increased to 21.5% from 19.3% in Q3 2013. Approximately 6.0% of all available listings for co-ops and condos in Q4 2013 had a price increase, down from 6.4% in Q3 2013.
Time on market decreased by 31.3% to 92 days, compared to 134 days from Q4 2012.
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.
What this means is that you're free to use our reports as you see fit as long as you attribute us as the source (preferably with a link to this page at http://streeteasy.com/nyc/market/reports), and if you alter or transform the report itself, then you have to release your changes under the same terms.