Archive for Market Stats

Nov
10

How’s the Market – October 2014

Posted by: | Comments Comments Off

While Quarterly Sales Reports show closed activity for the previous quarter, monthly Contract Signed reports are the ‘crystal ball’ of closed sales to come.  Granted, all contracts signed for any given month may not close in the next month, and some may not close at all but most (over 95%) will become closed sales which will become part of the next Quarterly Sales Report.

In the following charts and graphs you can see how the market stacks up against last month and this month last year.

 

AV&Med_SP_DOM_10-2014

DISC_AP_10-2014

S_by_region_10-2014

Sep
04

How’s the Market – August 2014

Posted by: | Comments Comments Off

While Quarterly Sales Reports show closed activity for the previous quarter, monthly Contract Signed reports are the ‘crystal ball’ of closed sales to come. Granted, all contracts signed for any given month may not close in the next month, and some may not close at all but most (over 95%) will become closed sales which will become part of the next Quarterly Sales Report.

In the following charts and graphs you can see how the market stacks up against last month and this month last year.

 

AV&MED_SP_DOM_08-2014 - Copy

DISC_AP_08-2014 - Copy

Sales_Region_08-2014 - Copy

 

Jul
20

In the News – July 20, 2014

Posted by: | Comments Comments Off

7/18/14:  Elliman Releases 2nd Quarter 2014 Elliman Report for Miami Beach/Barrier Island Sales:  The Miami Beach/Barrier Islands markets saw housing prices continue to rise, bringing more inventory into the market after last year’s record lows. The prices of luxury condos increased faster than the overall market. The time to sell property fell as negotiability between buyers and sellers remained stable. See the full report at Elliman.com   In Spanish In Portuguese 

7/18/14:  Elliman Releases 2nd Quarter 2014 Elliman Report for Miami Coastal Mainland Sales: Housing prices along Miami Coastal Mainland also experienced both rising prices and an increase in inventory, as more sellers ventured into the market. The market continued to move at a fast pace, while marketing times continued to fall. Cash buyers still made up the majority of sales, especially in the condo market. See the full report at Elliman.com.  In Spanish. In Portuguese

7/18/14:  Elliman Releases 2nd Quarter 2014 Elliman Report for Boca Raton Sales:  Sales activity was strong in Boca Raton, rising well above the levels experienced last year. Housing prices were generally higher across all markets.  More inventory entered the housing market, with the exception of luxury condos, which experienced a large decline from last year, placing upward pressure on prices.  See the full report at Elliman.com.

7/18/14:  Elliman Releases 2nd Quarter 2014 Elliman Report for Fort Lauderdale Sales:  The luxury and overall Fort Lauderdale housing markets experienced both rising prices and inventory. Housing prices reached their highest level in 6 years, while overall sales volume remained stable. With the addition of more listings the pace has cooled somewhat, but remains fast.  See the full report at Elliman.com.

7/18/14:  Elliman Releases 2nd Quarter 2014 Elliman Report for Palm Beach Sales: Palm Beach was one of the few housing markets in the region to see inventory continue to fall, despite more listings seen at the upper end of the market. Declining inventory kept sales from rising. Marketing times were faster and prices for the single family market increased well above levels experienced last year.  See the full report at Elliman.com.

Comments Comments Off
May
10

How’s the Market – April 2014

Posted by: | Comments Comments Off

While Quarterly Sales Reports show closed activity for the previous quarter, monthly Contract Signed reports are the ‘crystal ball’ of closed sales to come.  Granted, all contracts signed for any given month may not close in the next month, and some may not close at all but most (over 95%) will become closed sales which will become part of the next Quarterly Sales Report.

In the following charts and graphs you can see how the market stacks up against last month and this month last year.

 

AV_MED_SP_DOM_04-2014

Disc_AP_04-2014

Sales_by_Region_04-2014

Douglas Elliman released the First Quarter report for Manhattan Residential Co-op and Condo sales market.  The Manhattan Sales Quarterly Survey of Co-op & Condo Sales for 1Q-2014 reported here  and summarized below was prepared by Miller Samuel for Douglas Elliman.

 “Sales momentum from a record setting 2013 carried into the first quarter, as listing inventory stabilized after three years of declines.”

Manhattan_1Q_2014_highlights

The Manhattan housing market had yet another strong quarter despite the challenges of tight credit and low inventory. Momentum from the prior quarter carried into the new year with the most first quarter sales in seven years. New development sales are beginning to enter the market helping set several price records. While listing inventory may be at or near a bottom, we don’t anticipate enough new supply to enter the market to keep up with demand this year. We look forward to an active spring market.

  • The average price per square foot of a Manhattan apartment reached a record $1,363, 23.6% above the prior year level. Price comparisons compared to the prior year quarter may have been skewed higher by the market lull that occurred after the expiration of the “fiscal cliff” at the end of 2012.
  • There were 3,307 sales, 34.6% above the same period last year, the highest first quarter total in 7 years.
  • The amount of listing inventory was essentially unchanged at 4,968 as compared to the prior year quarter total of 4,960.
  • Days on market, the number of days from the last price change to the contract date, fell by 17 days to 115 from the prior year quarter.
  • Listing discount, the percentage difference between the list price at time of sale and the sales price, fell to 2.6% from 4.3% over the same period.

Douglas Elliman released the February 2014 report for Manhattan & Brooklyn Residential Rental Markets. The February 2014 Elliman Report for the Manhattan & Brooklyn Rental Markets reported here  and summarized below was prepared by  Miller Samuel for Douglas Elliman.

M&B_Rental_Rpt_02-2014“Brooklyn rental prices increased as Manhattan rental prices continued to slip.”

The Manhattan rental market still is feeling the heat from the sales market as first time buyers are being pulled from rentals.  Rental prices remain below year ago levels, yet we don’t expect significant relief to tenants anytime soon.  Larger apartments are seeing more rental price increases than smaller apartments.  Although we are seeing a little more availability than a year ago, as well as an increased use of concessions by landlords, conditions still remain tight.   With no anticipated easing of already tight mortgage lending conditions and an improving New York City economy, we look to an active rental market for the foreseeable future.

  • For the sixth consecutive month, the year-over-year median rental price fell below the prior year level.
  • Median rental price declined 2.8% to $3,100 from the same month last year.  As a result, rental prices have generally remained flat on a monthly basis since last summer.
  • The market share of concessions nearly doubled to 9.1% from the same period a year ago, but fell from 13.1% in the prior month.
  • The overall vacancy rate for Manhattan edged higher to 1.87% from 1.69% in the same month last year, consistent with the expanded use of concessions by landlords.

All rental price indicators continued to post year-over-year gains in Brooklyn.

  • Median rental price rose 11.6% to $2,890 from the same period a year ago, making the ninth consecutive monthly gain.
  • These results outpaced the luxury market, whose median rental price increased 4.5% over the same period.

Jan
09

How’s the Market? December 2013 & 4th Quarter 2013

Posted by: | Comments Comments Off

While Quarterly Sales Reports show closed activity for the previous quarter, monthly Contract Signed reports are the ‘crystal ball’ of closed sales to come.  Granted, all contracts signed for any given month may not close in the next month, and some may not close at all but most (over 95%) will become closed sales which will become part of the next Quarterly Sales Report.

In the following charts and graphs you can see how the market stacks up against last month and this month last year.

 

AV&MED_SPDOM_Dec_13
Disc_AP_Dec_13

Sales_region_Dec_13

The following charts show activity over the 4th Quarter 2013 compared to 3rd Quarter 2013 and 4 th Quarter 2012.

AV&MED_SPDOM_4th_Qtr_2013
Disc_AP_4thQTR_2013

Sales_Region_4th_Qtr_2013

Manhattan_Sales_Q4_2013Douglas 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-2013 reported  here and summarized below was prepared by Miller Samuel for Douglas Elliman.

“The market was characterized by record fourth quarter sales volume, record low inventory and record condo prices.”

  • There were 3,297 sales, up 26.9% from the prior year period, to the highest fourth quarter sales total in 25 years.
  • With the surge in sales in the fourth quarter, inventory could not enter the market fast enough to meet demand, causing inventory to fall 12.3% to a record low of 4,164 from the prior year quarter.
  • The individual co-op and condo markets indicated that record low inventory and record high sales were finally pressing prices higher. Co-op price indicators showed robust price gains in the lower half of the market and the condo median sales price set a 25-year record high of $1,320,000.
  • Listing discount, the percentage difference between the list price at time of sale and the sales price, slipped to 3.6% from 3.7% in the prior year quarter.
  • Days on market, the number of days from the last price change to the contract date, dropped by nearly half to 95 days from 177 days in the prior year quarter as supply evaporated.

Dec
29

How’s the Market – November 2013

Posted by: | Comments Comments Off

While Quarterly Sales Reports show closed activity for the previous quarter, monthly Contract Signed reports are the ‘crystal ball’ of closed sales to come.  Granted, all contracts signed for any given month may not close in the next month, and some may not close at all but most (over 95%) will become closed sales which will become part of the next Quarterly Sales Report.

In the following charts and graphs you can see how the market stacks up against last month and this month last year.

 

AV&MED_SP&DOM_11-2013

DISC_AP_11-2013

Sales_Region_Nov-2013

Nov
12

How’s the Market – October 2013

Posted by: | Comments Comments Off

While Quarterly Sales Reports show closed activity for the previous quarter, monthly Contract Signed reports are the ‘crystal ball’ of closed sales to come.  Granted, all contracts signed for any given month may not close in the next month, and some may not close at all but most (over 95%) will become closed sales which will become part of the next Quarterly Sales Report.

In the following charts and graphs you can see how the market stacks up against last month and this month last year.

AV&Med_SP_DOM_10-2013

DISC_AP_10-2013

 

Sales_-by_region_10-2013

 

 

 

 

Sep
22

How’s the Market – August 2013

Posted by: | Comments Comments Off

While Quarterly Sales Reports show closed activity for the previous quarter, monthly Contract Signed reports are the ‘crystal ball’ of closed sales to come.  Granted, all contracts signed for any given month may not close in the next month, and some may not close at all but most (over 95%) will become closed sales which will become part of the next Quarterly Sales Report.

In the following charts and graphs you can see how the market stacks up against last month and this month last year.

 

Av&Med_DOM_SP-Aug_2013

Dis_AP_Aug-2013

Sales_Region_Aug-2013

Aug
08

How’s the Market – July 2013

Posted by: | Comments Comments Off

While Quarterly Sales Reports show closed activity for the previous quarter, monthly Contract Signed reports are the ‘crystal ball’ of closed sales to come.  Granted, all contracts signed for any given month may not close in the next month, and some may not close at all but most (over 95%) will become closed sales which will become part of the next Quarterly Sales Report.

In the following charts and graphs you can see how the market stacks up against last month and this month last year.

 

AV&MED_SP_DOM_07-2013

DISC_AP_07-2013

Sales_Region_07-2013

 

Jul
30

In the News July 28, 2013

Posted by: | Comments Comments Off

07/11/13 Douglas Elliman Releases 2QTR 2013 Brooklyn Sales Report:  The Brooklyn housing market continued to experience limited levels of new inventory coming to the market. In fact, the spring market marked the lowest inventory in seven years and as a result, sales slipped and prices pushed to 10-year highs. The market moved at a faster pace with shorter marketing times and smaller discounts from list price. We do not expect significant improvement in re-sale inventory to enter the market in the coming quarters, which will keep the pressure on the market.  See the full report at Elliman.com 

7/11/13 Douglas Elliman Releases 2QTR 2013 Queens Sales Report:  The Queens housing market had the lowest inventory total in five years, but sales continued to rise. The faster pace of the market is resulting in some upward price pressure. Despite the limited supply, we didn’t see much change in market times or negotiability between buyers and sellers. As buyers in Manhattan and Brooklyn seek out affordability, we anticipate Queens to be one of the primary beneficiaries of this trend.  See the full report at Elliman.com

7/11/13 Douglas Elliman Releases 2QTR 2013 Westchester & Putnam Sales Report:  The Westchester housing market has experienced the most active second quarter in 8 years. Inventory continued to fall, reaching an 8-year low for the spring market. With a brisk pace of signed contracts in the second quarter, we expected a high level of closings in the next quarter and limited new inventory to enter the market. However, the shortage of supply has only caused a slight gain in prices. We see rising interest rates as a sign of an improving economy and anticipate continued improvement through the rest of the year.  See the full report at Elliman.com

7/16/13  Residents Sound Off About Planned East Side Esplanade Makeover:  The Rockefeller University’s plan to improve a neglected public park along the river as part of a campus revamp has some neighborhood residents worried the overhaul will destroy the East River Esplanade.    See the full article at DNA Info.com 

7/18/13  Douglas Elliman Releases 2QTR 2013 Miami Sales Report: The Miami housing market pushed ahead with more sales than during any other quarter over the past seven years.  Inventory continued to fall, causing prices to rise across most property types. Cash purchases remain an important driver of the market accounting for about three fourths of all condo sales. An improving regional economy as well as heavy international demand and a strong relationship with New York consumers is expected to keep the market moving over the next several quarters.  See the full report at Elliman.com

7/18/13 Douglas Elliman Releases 2QTR 2013 Boca Raton Sales Report:  Boca Raton experienced a large drop in supply over the past year keeping the pressure up on housing prices.  Little relief from low inventory is expected soon. Despite the decline in inventory, sales have been rising as marketing times have been falling. Cash remains a distinct advantage for buyers competing for fewer listings accounting for two thirds of all sales. We expect the current conditions to continue through the remainder of the year.  See the full report at Elliman.com

7/18/13 Douglas Elliman Releases 2QTR 2013 Fort Lauderdale Sales Report:  Fort Lauderdale is experiencing falling inventory. The lack of supply placed pressure on prices as the average size of a sale slipped a bit from last year. Sales of condos and single family homes reached their highest total in over seven years and cash purchases accounted for nearly two thirds of all sales. We anticipate these conditions to characterize the market over the coming quarters.  See the full report at Elliman.com

7/18/13 Douglas Elliman Releases 2QTR 2013 Palm Beach Sales Report:  Palm Beach showed some of the largest price increases in the region caused mainly by the lack of inventory.  The supply of homes fell steadily over the past year but the second quarter had the most sales of any spring market since 2008.  Price increases in the luxury market outpaced the overall market with the addition of many larger-sized sales. Without near term relief from low inventory, we expect more of the same tight market conditions throughout the year.  See the full report at Elliman.com

7/25/13 Douglas Elliman Releases 2 QTR 2013 Long Island Sales Report:  With the combination of rising sales and falling inventory, the Long Island housing market had the fastest market pace we’ve seen since 2005. As housing prices have begun to rise, we are now seeing signs of new supply entering the market, a relief for buyers. Interest rates started to increase at the end of the quarter and are expected to keep the market from getting overheated over the next few quarters.  See the full report at Elliman.com

7/25/13 Douglas Elliman Releases 2QTR 2013 Hamptons Sales Report:   The Hamptons housing market had the most active spring since 2006. There were a lot more sales and inventory continued to fall keeping the upward pressure on the housing prices. With fewer choices for buyers, we saw properties sell slightly faster with less negotiation between buyers and sellers. We expect more of the same tight conditions over the next several quarters.  See the full report at Elliman.com

7/25/13 Douglas Elliman Releases North Fork Sales Report:  The housing market in the North Fork behaved much as it’s neighbors to the south.  There were more sales this quarter along with less inventory and prices are beginning to rise.  An improving economy and concerns about rising interest rates brought a lot of buyers into the market even though credit remained tight. Overall it was an encouraging spring and we look forward to a stronger market for the remainder of the year.  See the full report on Elliman.com

Comments Comments Off
Jul
07

How’s the Market? June 2013 and 2nd Quarter 2013

Posted by: | Comments Comments Off

While Quarterly Sales Reports show closed activity for the previous quarter, monthly Contract Signed reports are the ‘crystal ball’ of closed sales to come.  Granted, all contracts signed for any given month may not close in the next month, and some may not close at all but most (over 95%) will become closed sales which will become part of the next Quarterly Sales Report.

In the following charts and graphs you can see how the market stacks up against last month and this month last year.

Av&Med_SP_DOM_06-2013

DISC_AP_06-2013

Sales_Region_06-2013

The following charts show activity over the 2nd Quarter 2013 compared to 1st Quarter 2013 and 2nd Quarter 2012

Av&Med_SP_DOM_2QTR

DISC_AP_2QTR

Sales_Region_2QTR_2013

Jul
02

Elliman Releases Second Quarter Manhattan Sales Report

Posted by: | Comments Comments Off

Douglas Elliman released the Second Quarter report for Manhattan Residential Co-op and Condo sales market.  The Manhattan Sales Quarterly Survey of Co-op & Condo Sales for 2Q-2013 reported here  and summarized below was prepared by Miller Samuelfor Douglas Elliman.

“The second quarter Manhattan housing market showed a continued decline in inventory, but a jump in sales activity as prices rose modestly.”2QTR_Manhattan_Sales

  • Median sales price expanded 4.3% to $865,000 from the same period last year.
  • Average sales price edged up 1.2% to $1,425,403 and price per square foot increased 7.9% to $1,149 over the same period.
  • The number of sales jumped 18.8% to 3,144 sales from the prior year quarter, the highest spring housing market sales total since 2007.
  • The number of listings fell 31.3% to 4,795 from the prior year quarter, the lowest recorded second quarter total in the 12 years of this report series.
  • Listing discount, the percentage difference between the list price at time of contract and the contract price, fell to 2.7% from 5.1% in the prior year quarter.
  • Days on market, the number of days from the last price change to the contract price, expanded by 13 days to 178 days, as languishing listings are selling off.