The 1999-2008 Manhattan Townhouse Report that I author for Prudential Douglas Elliman was released today. Dottie Herman, the President/CEO of Prudential Douglas Elliman is pushing hard to make information more accessible to the public.
Approximately 2,500 Manhattan residential townhouse transactions were analyzed over this ten year period. 1, 2 and 3-5 (delivered vacant) family houses comprised the data set.
…The annual median sales price of a Manhattan townhouse was a record $4,995,000 this quarter, up 59.8% from the prior year $3,125,000 median sales price. Average sales price showed the same pattern, rising 58.3% to a record $7,372,987 from $4,658,155 over the prior year. Price per square foot reached a record this year, up 42% to $1,615 from $1,137 per square foot in the prior year. The sharp rise in price trends was due to price growth of the luxury market as well as the east side, which has a high concentration of luxury properties. There were 530 townhouses in listing inventory at the end of 2008, up 15.2% from 460 townhouses listed at the end of 2007. The expansion of inventory and decline in the number of sales is consistent with increased negotiability and longer marketing times…
Download the 1999-2008 Manhattan Townhouse Report
Tags: Dottie Herman