Jan
06

Douglas Elliman Releases Fourth Quarter 2014 Report for Manhattan Co-op and Condo Sales

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Douglas Elliman released the Fourth Quarter report for Manhattan Residential Co-op and Condo sales market.  The Manhattan Sales Quarterly Survey of Co-op & Condo Sales for 4Q-2014 reported here and summarized below was prepared by Miller Samuel for Douglas Elliman.

Manhattan_Sales_4QTR_2014

“All Manhattan price indicators showed robust gains from the prior year quarter, largely driven by low inventory and higher than average demand.”

 

Manhattan housing prices continued to rise, but the market remained challenged by the lack of inventory. Sales activity was high, but did not equal the record volume achieved last year. New development market share continued to expand with more new offerings coming online in 2015. The current market pace remains brisk with nearly half of all sales resulting in purchase prices that were at or above the asking price. Based on the strong finish for 2014, we are anticipating an active market going into 2015.

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