…The Manhattan townhouse market showed price
stability in 2013. Median sales price edged 2.6%
higher to $3,591,250 as average sales price
declined 8.2% to $4,828,445 over the same period.
However, limited supply kept the market moving
at the fastest pace in 17 years. The 17.7% rise
in sales and 16.5% drop in supply pressed the
absorption rate, the number of months to sell all
listing inventory at the current pace of sales, to a
17 year low of 12.6 months. As a result of the faster
overall market pace, days on market, the number
of days from the last list price change to contract
date, slipped a modest 3 days…