Ilan Kolet from Bloomberg News whipped up this chart and shared on twitter using our Manhattan luxury townhouse data.
Gotta love the visual – the 2008 Lehman collapse exemplified in the high end townhouse market in the home of Wall Street.
We published our Manhattan Townhouse report, a ten year moving window data compendium of the market from 2003-2012. For the past 26 years we’ve been tracking the townhouse market, it has remained a small luxury subset representing a few percentage points of the overall residential market so a detailed quarterly or monthly analysis isn’t practical. This is part of an evolving market report series I’ve been writing for Douglas Elliman since 1994.
MANHATTAN TOWNHOUSE 2003-2012
Here’s an excerpt from the report:
…Townhouse sales rose to 277, their highest level since 343 sales were reached in 2007 before the onset of the credit crunch. The 15.4% increase in sales this year marks the third consecutive yearover- year increase in activity. Consistent with the rise in sales was the 18.9% drop in listing inventory to 411 and the two month drop in days on market to 106. Market share for East Side sales led all regions, jumping to 26% from 20.8% in 2011. The year-over-year change in price indicators were mixed with a 4.2% decline in median sales price, a 6.1% gain in average sales price and a 12.2% rise in average price per square foot…
The Elliman Report: 2003-2012 Manhattan Townhouse Report [Miller Samuel]
The Elliman Report: 2003-2012 Manhattan Townhouse Report [Douglas Elliman]
Market Chart Library [Miller Samuel]
Aggregated Custom Market Data Tables [Miller Samuel]