Residential Market Report Released
Virtual Strategy Marketing originally reported this story and information. Manhattan Real Estate has revealed and shed light on the trends as well as the quarter market conditions. The leading luxury real estate firm in New York, Town Residential, has offered information on the market conditions. This fourth quarter report for 2015, does show that there is a continued increase in price action. The average price is approximately two million dollars. The fall ‘soft patch’ has not filtered through the sales pipeline yet. The sales prices on average in Manhattan have seen at least a five percent gain.
Trends Show a Solid Move
There has been almost a 20 percent increase overall. The Manhattan condos have posted the most notable gains. These are year-over-year gains. The median sales price of these condos came in at 1,736,250 dollars. This was for the fourth quarter. The price per square foot trends does clearly show a solid move. This move is higher. The increase was up 11 percent. It was approximately seven percent higher, this is from 2015. This is an increase from the third quarter.
The Power Shifts Continuously
The overall power does continue to shift. This shift is to the buyer. They do have an approach that is cost-conscious. According To Itsy Garay, who is the Executive Vice President of Sales and Leasing, the buyer is armed with information. They are certainly able and ready however, they are not willing at any price.
The Study of Residential Sale Transactions
This study of residential sale transactions is comprehensive. This reaches all across the very distinct classes. This is from October all the way through December. This study is the aggregate that has been revealed by Town Residential.