It's that time of the month again where we go over the real estate market in Manhattan! As always, we'll go over the Average sale price, Median sale price, Average price per square foot, days on market and much more!
Let's get started!
- The average sale price for the month of September was $1,985,287- up 3.8% from last month and 3.5% from last year! WOWZA! Seems like prices just keep going up and up!
- The median sale price was $1,148,750- down 2% from August but up an incredible 14.9% from last year at this time!
- The average price per square foot continues to stay strong at $1483/sqft.
- Days on market (the number of days it takes for a property to go into contract) came in at 128 days- down 4.5% from last month and a WHOPPING 21% since this time last year!!
- Inventory increased by 10.8% since this time last year but is coming down slightly (0.6%) since last month.
If you're thinking about buying or selling in Manhattan, now is a GREAT time to do so! Prices are on the rise but inventory is still relatively high which gives buyers more negotiation power. Don't wait too long or you may be priced out of the market!
If you have questions, we are here to help!