Contract activity in August dropped year-over-year, as sales of condos and co-ops both fell. Pricing metrics for condos and coops saw mixed results in August, as average sale price increased by double digits for each, while median sale price declined for co-ops, but increased for condos. Similarly, price per square foot amongst condos saw a rise in pricing while co-ops saw a slight drop in pricing. Amongst condos, an increase in inventory was met by a surprisingly large reduction in days on market. Meanwhile, co-ops saw both days on market and inventory increase. Negotiability remains prevalent in both markets, though condos saw lower discounts than a year ago, and co-ops experienced a slight increase in average discount. 

Please do not hesitate to reach out if you have any questions about the August Snapshot or the Manhattan market in general. I welcome the opportunity to be of assistance to you. If you're interested in a confidential evaluation of your property I would be happy to help. Please call me at 917-921-8002 or email at spashcow@corcoran.com.

Regards,
Stacey
 

 

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The Deanna Kory Team is: Deanna Kory, Ileana Lopez-Balboa, Stacey Pashcow,
Lynn Nguyen, Jane Martin, Cindy Kitch and Sara McNeil.