Studios

Traditionally studios have been most sensitive to the gyrations of the real estate market as they tend to be the urban equivalent of "starter homes". Which is to say the demographic of those who purchase studios are renters and if the real estate market is showing a weakness, renters can easily sit out of the market.

Q1 2006 figures are still being analyzed but in Q4 2006 there was actually a decline in the average per square foot price of studios yet the overall market was slightly up though because the two and three bedroom gains offset the decline.

According to Douglas Elliman's Q1 07 report studios were up 7.5%. One bedrooms took the biggest hit.