Manhattan transaction volume rises in early 2016

Sales prices dip in first month of the year
  • Per usual, average sales prices on co-ops were lower than condos, the report says.
  • Downtown took the highest portion of condo sales in Manhattan, with 42 percent market share and $429 million in sales.
  • The 30-day price per square foot average dropped in all neighborhoods except for SoHo and West Village, where 8.5 percent and 4.5 percent increases occurred, respectively.
  • The highest average price per square foot in Manhattan was in Downtown, again, where apartments cost $2,172 per square foot in January.

CityRealty released its Monthly Market Report earlier this week, indicating New York City apartment prices dropped slightly in early 2016 while number of sales increased. Both condo and co-op sales in Manhattan reached $2.1 million, a slight dip from $2.2 million in December. However, the number of sales grew from 862 in December to 1,020 in January.