R E PORT 1-3 F A M I LY

Transcription

1 2 N D H A L F T OW N H O U S E R E PORT 1-3 F A M I LY H O M E S

2 OV E RV I EW There were 288 townhomes on the market in Manhattan and Northwest Brooklyn at the end of 2017, an 18% increase from one year ago. Market-wide, townhome inventory prices declined across all metrics. The average list price fell 10% to $10,923,974, the median list price dropped 12% to $7,375,000, while the average list PPSF declined 8% to $1,863. The steepest asking PPSF declines were in Northwest Brooklyn, Midtown East, and the Upper East Side. Of those properties that entered contract, the average contract price was $6,192,186, 15% higher than one year ago. Likewise, the median price was up 21% to $4,275,000, while the average contract PPSF increased 20% to $1,573. The average time a property spent on market also declined 18% to 136 days, fueled by fast-moving sales in Upper Manhattan and Northwest Brooklyn. Recorded sales, increasing 9% year-over-year to 226, saw a similar pattern. The average sale price was down 7% to $4,446,812, a staggering 59% lower than the average list price. The median price dropped 2% to $3,187,500, 57% below the median ask, while the average sale PPSF was $1,264, 32% below the average listing. The sharpest price adjustments were in the Upper East Side, where the average price, median price, and total volume all fell, while the number of sales remained flat year-over-year. 2

3 $1,573 $1,890 $2,112 $1,801 $2,511 $1,955 $2,336 $2,423 $2,092 $2,538 $2,632 $2,769 $2,857 $2,687 $1,715 $2,800,000 $2,079 $600 $1,664 $5,600,000 $1,615 $1, AS2010PRICES SOFTENED IN COSTLY MARKETS, EMERGING AREAS SAW SIGNIFICANT GAINS. Average PPSF Median Price Average Price $800 $3,500,000 MARKET-WIDE $640 INVENTORY YOY $2,800,000 CONTRACTS SIGNED YOY RECORDED SALES $480 AV E R AG E L I S T P P S F TOTA L VO L U M E $1, % 2011 $3,146,104, AV E R AG E S A L E S P P S F AV E R AG E DAY S O N M A R K E T 6% $1, % % $1,400,000 $4,446,812 $3,187,500 $1, % $700,000-2% -8% 2017 TOTA L VO L U M E -18% 226 $720 MEDIAN SALES PRICE YOY $2,100,000 $746 21% $4,275,000 $598 AV E R AG E S A L E S P R I C E $744 M E D I A N C O N T R AC T P R I C E AV E R AG E C O N T R AC T P P S F 15% $741-12% $6,192,186 $633 $7,375,000 NUMBER OF HOMES $711 AV E R AG E C O N T R AC T P R I C E 6% $663-10% 102 $533 $10,923,974 $446 NUMBER OF HOMES $534 MEDIAN LIST PRICE 18% $477 $160 $450 AV E R AG E L I S T P R I C E 288 $756 $320 $297 NUMBER OF HOMES $1,004,979,606 1% MARKET-WIDE HISTORICAL SALES BY SIX MONTHS Average PPSF Median Price $1,031 $1,264 $1,059 $1,312 $1,045 $1,369 $1,048 $1,433 $1,063 $1,423 $999 $1,375 $1,100 $1,453 $934 $1,377 $917 $1,262 $928 $1,425 $240 $500 $843 $1,185 $1,600,000 $2,800,000 $889 $1,205 $480 $1,000 $908 $1,382 $4,200,000 $2,400,000 $800 $1,366 $1,500 $720 $856 $1,337 $5,600,000 $3,200,000 $894 $1,363 $2,000 $960 $718 $1,379 $7,000,000 $4,000,000 $855 $1,261 $2,500 $1, $800,000 $1,400,000 Average Price $2,500 $16,000,000 $2,000 $12,800,000 3

4 UPPER EAST SIDE NUMBER OF HOMES 56-14% NUMBER OF HOMES 9 13% NUMBER OF HOMES 20 0% AVERAGE LIST PRICE $21,426,857 1% AVERAGE CONTRACT PRICE $9,818,889-26% AVERAGE SALES PRICE $8,257,250-16% MEDIAN LIST PRICE $19,950,000 11% MEDIAN CONTRACT $10,250,000 41% MEDIAN SALES PRICE $6,900,000-13% AVERAGE LIST PPSF $2,578-7% AVERAGE CONTRACT PPSF $3,013 55% AVERAGE SALES PPSF $2,310 19% TOTAL VOLUME $1,199,904,000-13% AVERAGE DAYS ON MARKET % TOTAL VOLUME $165,145,000-16% UPPER EAST SIDE HISTORICAL SALES BY SIX MONTHS $2,500 $16,000,000 $2,000 $12,800,000 $1,500 $9,600,000 $1,000 $6,400,000 $500 $1,496 $1,717 $1,688 $1,549 $1,767 $1,555 $1,436 $1,977 $1,744 $1,715 $1,989 $2,007 $1,906 $1,992 $1,956 $1,949 $2,089 $2,310 $3,200,000 4

5 UPPER WEST SIDE NUMBER OF HOMES 32 28% NUMBER OF HOMES 7-22% NUMBER OF HOMES 10-17% AVERAGE LIST PRICE $10,514,375 5% AVERAGE CONTRACT PRICE $12,285,714 37% AVERAGE SALES PRICE $7,942,968 2% MEDIAN LIST PRICE $8,867, % MEDIAN CONTRACT $13,750,000 83% MEDIAN SALES PRICE $7,045,000-2% AVERAGE LIST PPSF $1, % AVERAGE CONTRACT PPSF $1,756 11% AVERAGE SALES PPSF $1,343-12% TOTAL VOLUME $336,459,995 34% AVERAGE DAYS ON MARKET 191-6% TOTAL VOLUME $79,429,675-15% UPPER WEST SIDE HISTORICAL SALES BY SIX MONTHS $2,500 $12,000,000 $2,000 $9,600,000 $1,500 $7,200,000 $1,000 $4,800,000 $500 $1,057 $995 $1,250 $1,021 $1,399 $1,258 $1,266 $1,294 $1,492 $1,325 $1,497 $1,560 $1,538 $1,757 $1,425 $1,530 $1,522 $1,343 $2,400,000 5

6 MIDTOWN EAST NUMBER OF HOMES 14 27% NUMBER OF HOMES 4 100% NUMBER OF HOMES 6 50% AVERAGE LIST PRICE $10,352,714-13% AVERAGE CONTRACT PRICE $10,237,500 90% AVERAGE SALES PRICE $5,337,500 23% MEDIAN LIST PRICE $7,444,500-9% MEDIAN CONTRACT $8,725,000 62% MEDIAN SALES PRICE $4,237,500-13% AVERAGE LIST PPSF $2,063-8% AVERAGE CONTRACT PPSF $2,373 96% AVERAGE SALES PPSF $1,673 35% TOTAL VOLUME $144,938,000 11% AVERAGE DAYS ON MARKET % TOTAL VOLUME $32,025,000 84% MIDTOWN EAST HISTORICAL SALES BY SIX MONTHS $2,500 $9,000,000 $2,000 $7,200,000 $1,500 $5,400,000 $1,000 $3,600,000 $500 $493 $1,284 $909 $1,017 $1,348 $849 $1,002 $1,848 $1,254 $1,176 $1,377 $1,315 $1,978 $1,785 $1,380 $1,240 $1,513 $1,673 $1,800,000 6

7 DOWNTOWN NUMBER OF HOMES 69 28% NUMBER OF HOMES 14 75% NUMBER OF HOMES 13-35% AVERAGE LIST PRICE $13,927,140-3% AVERAGE CONTRACT PRICE $10,222,143-8% AVERAGE SALES PRICE $10,724,615-2% MEDIAN LIST PRICE $12,000,000-6% MEDIAN CONTRACT $9,925,000-21% MEDIAN SALES PRICE $10,500,000 31% AVERAGE LIST PPSF $2,508-2% AVERAGE CONTRACT PPSF $2,463 2% AVERAGE SALES PPSF $2,687-3% TOTAL VOLUME $960,972,675 24% AVERAGE DAYS ON MARKET % TOTAL VOLUME $139,420,000-37% DOWNTOWN HISTORICAL SALES BY SIX MONTHS $3,000 $14,000,000 $2,400 $11,200,000 $1,800 $8,400,000 $1,200 $5,600,000 $600 $1,615 $1,664 $2,079 $1,715 $1,573 $1,890 $2,112 $1,801 $2,511 $1,955 $2,336 $2,423 $2,092 $2,538 $2,632 $2,769 $2,857 $2,687 $2,800,000 7

8 UPPER MANHATTAN NUMBER OF HOMES 42 27% NUMBER OF HOMES 5-50% NUMBER OF HOMES 22-12% AVERAGE LIST PRICE $3,795,852-1% AVERAGE CONTRACT PRICE $3,094,000 7% AVERAGE SALES PRICE $3,147,682 26% MEDIAN LIST PRICE $3,125,000-4% MEDIAN CONTRACT $3,400,000 22% MEDIAN SALES PRICE $3,015,000 23% AVERAGE LIST PPSF $ % AVERAGE CONTRACT PPSF $811 14% AVERAGE SALES PPSF $720 20% TOTAL VOLUME $159,425,776 26% AVERAGE DAYS ON MARKET 86-53% TOTAL VOLUME $69,248,995 11% UPPER MANHATTAN HISTORICAL SALES BY SIX MONTHS $800 $3,500,000 $640 $2,800,000 $480 $2,100,000 $320 $1,400,000 $160 $450 $297 $756 $477 $534 $446 $533 $663 $711 $633 $741 $744 $598 $746 $720 $700,000 8

9 NORTHWEST BROOKLYN NUMBER OF HOMES 75 32% NUMBER OF HOMES 63 7% NUMBER OF HOMES % AVERAGE LIST PRICE $4,592,053-15% AVERAGE CONTRACT PRICE $4,090,524 21% AVERAGE SALES PRICE $3,352,974 5% MEDIAN LIST PRICE $3,750,000-6% MEDIAN CONTRACT $3,295,000 10% MEDIAN SALES PRICE $2,765,000-6% AVERAGE LIST PPSF $1,127-17% AVERAGE CONTRACT PPSF $1,148-3% AVERAGE SALES PPSF $1,031-1% TOTAL VOLUME $344,403,997 11% AVERAGE DAYS ON MARKET 92-28% TOTAL VOLUME $519,710,936 28% NORTHWEST BROOKLYN HISTORICAL SALES BY SIX MONTHS $1,200 $4,000,000 $960 $3,200,000 $720 $2,400,000 $480 $1,600,000 $240 $855 $718 $894 $856 $800 $908 $889 $843 $928 $917 $934 $1,100 $999 $1,063 $1,048 $1,045 $1,059 $1,031 $800,000 9

10 THE RIGHT BROKER MAKES ALL THE DIFFERENCE. Over the past 37 years, Stribling brokers have successfully represented the world s most discerning clients, offering an exceptional level of service, integrity and sophistication coupled with an in-depth understanding of the ever-changing real estate market. Stribling professionals embrace a wide range of tastes and styles, ensuring that each client is matched with the broker who can best assist them in buying or selling their home. RESEARCH GARRETT DERDERIAN Director of Data & Reporting GDerderian@stribling.com UPTOWN CHELSEA TRIBECA BROOKLYN MEDIA ASHLEY MURPHY Director of Public Relations AMurphy@stribling.com A SAVILLS INTERNATIONAL ASSOCIATE Contracts Signed and Recorded Sales reflect the prior six months of data. Includes all townhomes $2M+. The information complied by Stribling & Associates is produced and analyzed from sources deemed to be reliable. Stribling & Associates makes no representations or warranties, express or implied, with respect to future market conditions or prices of residential product at the time the subject property or any competitive property is complete and ready for occupancy or with respect to any report, study, finding, recommendation, or other information provided by Stribling & Associates herein. Moreover, no warranty, express or implied, is made or should be assumed regarding the accuracy, adequacy, completeness, legality, reliability, merchantability, or fitness for a particular purpose of any information, in part or whole, contained herein. All material is presented with the understanding that Stribling & Associates is not providing any legal, accounting, or other professional services. Nothing in this report shall constitute an offer or solicitation with respect to purchase, sale or rental of any property. Any and all such warranties are hereby expressly disclaimed. 2018, Stribling & Associates. This report and the information provided in this report are proprietary to Stribling & Associates and may not be sold, used or reprinted, in whole or in part, without the prior written consent in each instance of Stribling & Associates. Equal Housing Opportunity. All Rights Reserved.