NEW YORK CITY—The condominium/cooperative housing market in Manhattan posted record sale prices in 2017 and even sales activity, which had been on a downward spiral the past three years, increased 4.1% as compared to 2016 sales volume.
Residential brokerage firm Douglas Elliman released Thursday sales reports on the condo-co-op markets, as well as the niche townhouse sales market in 2017. The firm also released comparative statistics on the Manhattan residential market for the past decade.
“In Manhattan, the co-op and condo market showed strength and despite the decline of closings in the new development pipeline of legacy sales, market-wide price trend indicators all set record highs,” says Steven James, CEO of New York City, Douglas Elliman. “As for quantity of sales, after three years of declines, numbers rose year-over-year as the market rebounded from the doldrums of 2016.”
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
