May was an improved month for condo and co-op sales in Manhattan, as contracts signed of both reached their second highest point in the last year. Inventory remained virtually unchanged versus last year, with just a 1% rise overall. Inventory grew in the condo market, but fell for co-ops. Every price metric for both condos and co-ops saw annual increases with some significant gains. Listings spent more time on the market for both the condos and co-ops, as days on market rose by 10% and 28%, respectively. Negotiability was still present market wide as the average sale was made slightly below ask. 

Please do not hesitate to reach out if you have any questions about the May 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.