a field guide to selling the world · healthy market environment. the manhattan market has now...
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A FIELD GUIDE TO SELLING THE WORLDMarket Report | 3rd Quarter 2017 | nikkifield.com
REPRESENTING PREMIER MANHATTAN RESIDENCES 連接全球資深買家與曼哈頓豪華地產的橋NIKKI FIELD Senior Global Real Estate Advisor, Associate Broker | 212.606.7669 | [email protected] | nikkifield.com
© MMXVII Sotheby’s International Realty, Inc (SIR). All Rights Reserved. This material is based upon information which we consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete and it should not be relied upon as such. This offering is subject to errors, omissions, changes including price or withdrawal without notice. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. SIR and the SIR logo are registered (or unregistered) service marks used
with permission. Operated by SIR. Real estate agents affiliated with SIR are independent contractor sales associates and are not employees of SIR. Equal housing opportunity.
TROPHY HOMES ARE BACKYes, it is safe again to go back into the uber-tier of the Manhattan Real Estate Market!Confidence has returned in the Luxury Market and is trickling downward to all price points. Owners of the “best in class” are back into selling positions with realistic expectations due to recent indicators of the healthy market environment.
The Manhattan market has now experienced two consecutive quarters of annual growth in closed sales as a result of improved contract activity in the first 6 months of 2017 versus 2016. Third Quarter 2017 closings rose by 3% year-over-year to 3,703 sales, primarily due to strong performances in the new development.
Inventory is heading downwards. Market-wide absorption has increased due to an undersupplied co-op market, delayed new development launches, adjustments in foreign capital controls, and the lack of lower-priced inventory in the resale condo market.
Pricing trends were mixed in Third Quarter 2017. Market-wide median price and price per square foot both experienced annual gains, with the median price rising by 10% and median price per square foot rising 2%.• Luxury sales (those over the price
threshold of $4.100M) represented 10% of market sales with an average price at $8.003M Third Quarter 2017. This market tier accounted for 21% of available listings, with a price threshold of $7.300M.
• Downtown continues to draw the majority of luxury buyers, claiming 53% of all luxury sales. The Upper East Side had the second largest share at 23%.
212 Fifth Avenue, Penthouse Triplex
The Plaza Penthouse, 1809 $50,000,000
Royal Townhouse, 29 Beekman Place $28,000,000
The New River House Tower Duplex $18,500,000
1049 Fifth Avenue, Apt 19B $12,500,000
One 57, Tower 85 $70,000,000
The New Carlton Mansion $40,000,000
The Goldman House,132 East 70th St $20,000,000
The Hampshire House, 150 CPS $12,500,000
815 Park Avenue, Penthouse $7,650,000
The Field Team Welcomes BENJAMIN POFCHER
Specialist in the Downtown & Brooklyn markets
The Field Team’s Collection of New Exclusives