How come Streeteasy's index doesn't match swe's data? Can't say this is a good trend for folks waiting to buy a condo.... Summary of findings in 2012 Q3 Manhattan Condo Market Index for August 2012 increased by 0.8% since the previous month and by 5.3% since the prior year. Currently, the market is 9.0% below the market peak in 2008. For details see: http://streeteasy.com/nyc/market/condo_index.... [more]
How come Streeteasy's index doesn't match swe's data? Can't say this is a good trend for folks waiting to buy a condo....
Summary of findings in 2012 Q3
Manhattan Condo Market Index for August 2012 increased by 0.8% since the previous month and by 5.3% since the prior year.
Currently, the market is 9.0% below the market peak in 2008. For details see: http://streeteasy.com/nyc/market/condo_index.
Median closing prices for condo resales gained 10.1% since the prior year while co-op median price declined 2.0%.
New development median price had an increase of 8.0% since a year ago.
Volume of closings jumped 16.6% from last year and by 10.0% from last quarter.
Inventory decreased 11.7% from last year and by 10.9% from last quarter.
Signed contracts is up 35.6% since last year but down 22.6% from last quarter’s peak selling season.
Price cuts decreased by 22.6% from last year and by 19.3% from last quarter.
Time on market went down 9.0% compared to last year and by 13.3% compared to last quarter.
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Response by matsonjones
about 13 years ago
Posts: 1183
Member since: Feb 2007
But this CAN'T be. All brooks2 and west67th and others have been telling me is that all prime Manhattan real estate is supposed to be down by 50% from the highs - minimum - and no more than $500 psf on average across the board.
So the reports you are referring to clearly are incorrect....
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Response by ab_11218
about 13 years ago
Posts: 2017
Member since: May 2009
Median closing prices for condo resales gained 10.1% since the prior year while co-op median price declined 2.0%.
Foreign money being stashed in NYC RE. just wait till $ gets stronger....
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Response by w67thstreet
about 13 years ago
Posts: 9003
Member since: Dec 2008
matsonjones... please proceed to buy all real estate in nyc near the waterfront. then start going uptown. please hurry before interest rates increase.. .cause as we all know when interest rate is really high..... outstanding bonds with low coupons as well as all real estate will go up in price....
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Response by matsonjones
about 13 years ago
Posts: 1183
Member since: Feb 2007
.....but w67th i've been waiting for average prices for prime NYC real estate to drop to $500 psf like you always said it would. Manhattan condos are averaging around $1,300 psf, so do you think Sandy can bring them all down $800 psf? Because I'm waiting! Please tell me when those prices are gonna be $500 psf - I've been waiting four years now.....any day, right?
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Response by HarlemFF
about 13 years ago
Posts: 63
Member since: Sep 2012
mean vs. median
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Response by w67thstreet
about 13 years ago
Posts: 9003
Member since: Dec 2008
me too... and I've made 140% off of Sprint while I've waited... I can't help it if you can only make .00005% on your investments? HOW THE FK IS thAT MY FAULT?
Oh that's $1.4MM in profits.. in 6 months... but you can STRETCH IT OUT OVER 4 YRS if it makes you feel better. And surely you should give the fk up and buy now with 30yr mortgages at 2.75% BC in 4 MORE FKING YRS it'll BE 0.75% 30 yr fixed.. and 4 fking yrs after that THE GOVT WILL PAY YOU TO TAKE A NEGATIVE INTEREST BEARING MORTGAGE of -2.75%!!!!!!! IT'LL GO ON FOREVER..... FLMAOZzzzzzz.
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Response by w67thstreet
about 13 years ago
Posts: 9003
Member since: Dec 2008
I'VE BEEN MADE TO WAIT BC THE GOV"T IS SCARED SHITLESS WHAT THE ECONOMY/RE WOULD LOOK LIKE WITH 8% MORTGAGES.... CAN YOU IMAGINE A NYC RE WITH 8% MORTGAGES.... SHIT IT'S BARELY TREADING WATER WITH 3% MORTGAGES... CAN YOU IMAGINE THE FKING FLOODING...
FORGET IMAGINE.. .GET THE ZILLOW APP AND LOOK FOR THE MILLIONS OF HOMES SITTING ON BANK's BOOKS THAT THEY HAVEN'T LIFTER A FINGER TO RESOLVE... GO ON.. PUT YOUR EMAIL IN AND SIGN IN... THOUSANDS AND THOUSANDS OF NON PERFORMING ASSETS.. .AND THIS WAS BF SANDY!!! UNDERWATER BEYCTESSSSS! FLMOAZZZzzzzz
BUY BEACHFRONT PROPERTY MATSONJONES.... JUST STFU AND BUY BEACHFRONT.
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Response by matsonjones
about 13 years ago
Posts: 1183
Member since: Feb 2007
so so so angry w67 all I want to know is when prime NYC real estate will be $500 psf just like you predicted......four years ago.....tick tock tick tock
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Response by Truth
about 13 years ago
Posts: 5641
Member since: Dec 2009
Oh my goodness. You are such self-absorbed people.
Please donate whatever you can to the hurricane relief efforts.
See: marathon thread.
Shame on you, w67th.
You know what it feels like to be hungry, from your childhood poverty experiences.
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Response by Brooks2
about 13 years ago
Posts: 2970
Member since: Aug 2011
Go buy a condo then! Lol
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Response by mym
about 13 years ago
Posts: 188
Member since: Jun 2009
Yes, obviously condo prices are up-because it unfortunately is often cheaper to rent than to buy. There are many investors, including American investors. Remember the NYT article re the "investor next door". However, there may be a new bubble in the making. The Brooklyn market is sizzling, Prices went up 10% over the summer. In prime areas, asking price offers are often rejected if they are not in cash. However, there is so much development that there are many buildings which accept FHA loans- less than 10% down payment is required, but rates are significantly higher. It's obvious that if one of those borrowers loses a job or suffers some other unforseen financial hardship they will be underwater.
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Response by somewhereelse
about 13 years ago
Posts: 7435
Member since: Oct 2009
Key things juicy forgets...
1) Most of the market is co-ops
2) 4 years of inflation.... what is it in real terms?
Most importantly...
3) He laughed and said there would be no decline.
WHOOPS.
Juicy, you finally admitting you were wrong?
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Response by somewhereelse
about 13 years ago
Posts: 7435
Member since: Oct 2009
(and ab, thanks for pointing out that co-ops declined again)
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But this CAN'T be. All brooks2 and west67th and others have been telling me is that all prime Manhattan real estate is supposed to be down by 50% from the highs - minimum - and no more than $500 psf on average across the board.
So the reports you are referring to clearly are incorrect....
Median closing prices for condo resales gained 10.1% since the prior year while co-op median price declined 2.0%.
Foreign money being stashed in NYC RE. just wait till $ gets stronger....
matsonjones... please proceed to buy all real estate in nyc near the waterfront. then start going uptown. please hurry before interest rates increase.. .cause as we all know when interest rate is really high..... outstanding bonds with low coupons as well as all real estate will go up in price....
.....but w67th i've been waiting for average prices for prime NYC real estate to drop to $500 psf like you always said it would. Manhattan condos are averaging around $1,300 psf, so do you think Sandy can bring them all down $800 psf? Because I'm waiting! Please tell me when those prices are gonna be $500 psf - I've been waiting four years now.....any day, right?
mean vs. median
me too... and I've made 140% off of Sprint while I've waited... I can't help it if you can only make .00005% on your investments? HOW THE FK IS thAT MY FAULT?
Oh that's $1.4MM in profits.. in 6 months... but you can STRETCH IT OUT OVER 4 YRS if it makes you feel better. And surely you should give the fk up and buy now with 30yr mortgages at 2.75% BC in 4 MORE FKING YRS it'll BE 0.75% 30 yr fixed.. and 4 fking yrs after that THE GOVT WILL PAY YOU TO TAKE A NEGATIVE INTEREST BEARING MORTGAGE of -2.75%!!!!!!! IT'LL GO ON FOREVER..... FLMAOZzzzzzz.
I'VE BEEN MADE TO WAIT BC THE GOV"T IS SCARED SHITLESS WHAT THE ECONOMY/RE WOULD LOOK LIKE WITH 8% MORTGAGES.... CAN YOU IMAGINE A NYC RE WITH 8% MORTGAGES.... SHIT IT'S BARELY TREADING WATER WITH 3% MORTGAGES... CAN YOU IMAGINE THE FKING FLOODING...
FORGET IMAGINE.. .GET THE ZILLOW APP AND LOOK FOR THE MILLIONS OF HOMES SITTING ON BANK's BOOKS THAT THEY HAVEN'T LIFTER A FINGER TO RESOLVE... GO ON.. PUT YOUR EMAIL IN AND SIGN IN... THOUSANDS AND THOUSANDS OF NON PERFORMING ASSETS.. .AND THIS WAS BF SANDY!!! UNDERWATER BEYCTESSSSS! FLMOAZZZzzzzz
BUY BEACHFRONT PROPERTY MATSONJONES.... JUST STFU AND BUY BEACHFRONT.
so so so angry w67 all I want to know is when prime NYC real estate will be $500 psf just like you predicted......four years ago.....tick tock tick tock
Oh my goodness. You are such self-absorbed people.
Please donate whatever you can to the hurricane relief efforts.
See: marathon thread.
Shame on you, w67th.
You know what it feels like to be hungry, from your childhood poverty experiences.
Go buy a condo then! Lol
Yes, obviously condo prices are up-because it unfortunately is often cheaper to rent than to buy. There are many investors, including American investors. Remember the NYT article re the "investor next door". However, there may be a new bubble in the making. The Brooklyn market is sizzling, Prices went up 10% over the summer. In prime areas, asking price offers are often rejected if they are not in cash. However, there is so much development that there are many buildings which accept FHA loans- less than 10% down payment is required, but rates are significantly higher. It's obvious that if one of those borrowers loses a job or suffers some other unforseen financial hardship they will be underwater.
Key things juicy forgets...
1) Most of the market is co-ops
2) 4 years of inflation.... what is it in real terms?
Most importantly...
3) He laughed and said there would be no decline.
WHOOPS.
Juicy, you finally admitting you were wrong?
(and ab, thanks for pointing out that co-ops declined again)