Manhattan Real Estate Update: Positive Changes

By Jeff Adolph

Residential Real Estate

A decline in the number of homes on the market in Manhattan, and increased sales activity, are positive signs that the down trodden real estate market in this region is beginning to recover.

 

Sofia Kim, vice president of research for StreetEasy.com, a real estate information website said, 'Things are stabilizing,' when asked about the market in Manhattan.

 

According to a report released by Miller Samuel, an appraisal firm for Prudential Douglas Elliman, Manhattan real estate prices are up by 0.8% from last quarter and the average sales price is hovering around the $1.32 million mark.

 

However, the median price for a one-bedroom apartment currently stands at $645,000, 11.3% cheaper than this time last year. Three-bedroom apartments have a median price of 40.7% less, which stands at $2.25 million, when compared to this time last year.

 

Overall sales  for the quarter hit 2,230, a 45.6% rise when compared with the previous quarter, and the size of the sales inventory fell by 5.7%. All of which, point to a strengthening market with positive changes.

Article Source: Furman, Phyllis (2009) Corner Could be Turned: Manhattan Real Estate Sales Stabilizing; available online at http://www.nydailynews.com

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© 2006+ Jeff Adolph GayRealEstate USA

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By Jeff Adolph

Residential Real Estate

A decline in the number of homes on the market in Manhattan, and increased sales activity, are positive signs that the down trodden real estate market in this region is beginning to recover.

 

Sofia Kim, vice president of research for StreetEasy.com, a real estate information website said, 'Things are stabilizing,' when asked about the market in Manhattan.

 

According to a report released by Miller Samuel, an appraisal firm for Prudential Douglas Elliman, Manhattan real estate prices are up by 0.8% from last quarter and the average sales price is hovering around the $1.32 million mark.

 

However, the median price for a one-bedroom apartment currently stands at $645,000, 11.3% cheaper than this time last year. Three-bedroom apartments have a median price of 40.7% less, which stands at $2.25 million, when compared to this time last year.

 

Overall sales  for the quarter hit 2,230, a 45.6% rise when compared with the previous quarter, and the size of the sales inventory fell by 5.7%. All of which, point to a strengthening market with positive changes.

Article Source: Furman, Phyllis (2009) Corner Could be Turned: Manhattan Real Estate Sales Stabilizing; available online at http://www.nydailynews.com

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Click on Comments below and share your thoughts and opinions, ask a real estate question or offer story suggestions...

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© 2006+ Jeff Adolph GayRealEstate USA

Proudly Sponsored By:

By Jeff Adolph

Residential Real Estate

A decline in the number of homes on the market in Manhattan, and increased sales activity, are positive signs that the down trodden real estate market in this region is beginning to recover.

 

Sofia Kim, vice president of research for StreetEasy.com, a real estate information website said, 'Things are stabilizing,' when asked about the market in Manhattan.

 

According to a report released by Miller Samuel, an appraisal firm for Prudential Douglas Elliman, Manhattan real estate prices are up by 0.8% from last quarter and the average sales price is hovering around the $1.32 million mark.

 

However, the median price for a one-bedroom apartment currently stands at $645,000, 11.3% cheaper than this time last year. Three-bedroom apartments have a median price of 40.7% less, which stands at $2.25 million, when compared to this time last year.

 

Overall sales  for the quarter hit 2,230, a 45.6% rise when compared with the previous quarter, and the size of the sales inventory fell by 5.7%. All of which, point to a strengthening market with positive changes.

Article Source: Furman, Phyllis (2009) Corner Could be Turned: Manhattan Real Estate Sales Stabilizing; available online at http://www.nydailynews.com

------------------------------------------------------------------

*RealQuestions RealAnswers*

Click on Comments below and share your thoughts and opinions, ask a real estate question or offer story suggestions...

-----------------------------------------------------------------

© 2006+ Jeff Adolph GayRealEstate USA

Proudly Sponsored By:

By Jeff Adolph

Residential Real Estate

A decline in the number of homes on the market in Manhattan, and increased sales activity, are positive signs that the down trodden real estate market in this region is beginning to recover.

 

Sofia Kim, vice president of research for StreetEasy.com, a real estate information website said, 'Things are stabilizing,' when asked about the market in Manhattan.

 

According to a report released by Miller Samuel, an appraisal firm for Prudential Douglas Elliman, Manhattan real estate prices are up by 0.8% from last quarter and the average sales price is hovering around the $1.32 million mark.

 

However, the median price for a one-bedroom apartment currently stands at $645,000, 11.3% cheaper than this time last year. Three-bedroom apartments have a median price of 40.7% less, which stands at $2.25 million, when compared to this time last year.

 

Overall sales  for the quarter hit 2,230, a 45.6% rise when compared with the previous quarter, and the size of the sales inventory fell by 5.7%. All of which, point to a strengthening market with positive changes.

Article Source: Furman, Phyllis (2009) Corner Could be Turned: Manhattan Real Estate Sales Stabilizing; available online at http://www.nydailynews.com

------------------------------------------------------------------

*RealQuestions RealAnswers*

Click on Comments below and share your thoughts and opinions, ask a real estate question or offer story suggestions...

-----------------------------------------------------------------

© 2006+ Jeff Adolph GayRealEstate USA

Proudly Sponsored By:

By Jeff Adolph

Residential Real Estate

A decline in the number of homes on the market in Manhattan, and increased sales activity, are positive signs that the down trodden real estate market in this region is beginning to recover.

 

Sofia Kim, vice president of research for StreetEasy.com, a real estate information website said, 'Things are stabilizing,' when asked about the market in Manhattan.

 

According to a report released by Miller Samuel, an appraisal firm for Prudential Douglas Elliman, Manhattan real estate prices are up by 0.8% from last quarter and the average sales price is hovering around the $1.32 million mark.

 

However, the median price for a one-bedroom apartment currently stands at $645,000, 11.3% cheaper than this time last year. Three-bedroom apartments have a median price of 40.7% less, which stands at $2.25 million, when compared to this time last year.

 

Overall sales  for the quarter hit 2,230, a 45.6% rise when compared with the previous quarter, and the size of the sales inventory fell by 5.7%. All of which, point to a strengthening market with positive changes.

Article Source: Furman, Phyllis (2009) Corner Could be Turned: Manhattan Real Estate Sales Stabilizing; available online at http://www.nydailynews.com

------------------------------------------------------------------

*RealQuestions RealAnswers*

Click on Comments below and share your thoughts and opinions, ask a real estate question or offer story suggestions...

-----------------------------------------------------------------

© 2006+ Jeff Adolph GayRealEstate USA

Proudly Sponsored By:

By Jeff Adolph

Residential Real Estate

------------------------------------------------------------------

© 2006+ Jeff Adolph GayRealEstate USA

Proudly Sponsored By: