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Newest Statistics for the NYC Real Estate Market

Wondering how the NYC real estate market is doing? Here are some statistics that may surprise you.

• The number of signed CONDO contracts for October 2009 is up 32% over September 2009, and is up 135% over October 2008.
• October boasted the most condominium signed contracts for 2009.
• The number of signed COOP contracts for October 2009 is up 30% over September 2009, and is up 160% over October 2008.
• At this point in November – a little more than halfway through the month – the number of signed contracts this month is already more than the total for November 2008.
• Co-op sales generally increase 5% in November; November co-op sales will most likely be higher than October if the pace of sales remains steady
• Available inventory is at its lowest in 21 months– down 24% from its peak in March 2009.
• Total available inventory is approximately 9,300 units (last at this level in March 2008).
• The average CONDO sale price is $1.95M in Q4 2009, 29% higher than Q3 2009 and 12% higher than Q4 2008
• Buyers are purchasing larger residences this quarter versus Q3 2009
• Price per square foot increased 15% versus Q3 2009 as the high-end of the market rebounded – more resales in trophy buildings around Central Park