This report is a snapshot of August 2011 based on Corcoran Group's signed contract data with the exception of "Number of Contracts Signed" and inventory figures. Number of reported signed contracts in Manhattan by all firms.
Hopefully you will find the following information helpful but remember that in today’s market, statistics only can tell so much. Dynamics can shift from block to block even buiding to building and from one price to another.
Data can often be skewed if there is heavy activity in one price range or size apartments in a given month. A broker can help navigate the nuances in the market month to month quarter to quarter neiighborhood to neighborhood, building to building. The market appears to be stable. The number of signed contracts was up compared to last August in both condos and coops. Activity traditionally slows in August because of summer vacations.
As always, I will continue to follow closely Manhattan marketwide and neighbiohood sales activity and trends in residential real estate during the next few months, and welcome the opportunity to answer any questions you may have about this report or the market in general or to assist you selling or purchasing Manhattan real estate.