AgentMarkets & Economy

Manhattan condo closings skyrocketing, Compass reports

Compass Markets provides snapshot of the latest condo and co-op figures in Manhattan

West Village and Greenwich Village are dominating in condo closings since last year, according to the Compass Q1 Manhattan Neighborhood Insights. Both Lower Manhattan neighborhoods increased condo closings by more than 200 percent, making up two of the 15 neighborhoods with scaled annual closings. [gview file="http://www.inman.com/wp-content/uploads/2016/04/Q1-2016-Market-Insights-FINAL.pdf"] West Village: high condo prices Within the condominium sphere, West Village median sales price is up 107 percent year-over-year. While Compass’s full Q1 market report is not available on its website just yet, real-time data on the Compass Markets app shows the median price on condos is $4.95 million. As of April 1, 40.4 percent of West Village listings are condos. Meanwhile, co-ops, which comprise 44.8 percent of listings in West Village, have a median price of $1.095 million. West Village median price for all units is currently $2.275 million -- a 21.3 percent year-over-year increase....