StreetEasy Market Reports
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
Manhattan, 2nd Quarter of 2013
All links are PDF files.
|* denotes abridged report; see report for details.|
Tracking Manhattan Residential Real Estate Market Trends
With the close of the third quarter, New York's largest brokerages have released their quarterly market reports. We've combed through all of the data and created this roundup to help you understand the latest residential real estate market trends in Manhattan. Although every firm has its own unique methodology (which explains the variations), some common trends from the latest quarter include:
- Inventory experienced a double-digit decline since last year
- Median sale price edged upward, particularly in the condo resale segment
- Units are spending fewer days on the market, on average
- Rising mortgage rates threaten the market's fragile recovery
* Due to a time-lag in closings data from the New York City Department of Finance, StreetEasy is not reporting closings data until mid-October 2013.
** StreetEasy methodology for calculating inventory is to take the total number of available units at all points during the quarter, whereas other firms record point-in-time inventory (usually the last day of the quarter).
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.