Jan. 23, 2009 - comparing nuggets / 4Q Manhattan loft data + overall market
so few nuggets
The overall Manhattan 4Q Numbers, 3 ways, with some year-over-year comparisons:
|
median sales price |
avg price per foot |
transactions |
days on market |
inventory |
| Miller Samuel |
$900k [up 5.9%] |
$1,183 [up 0.3%] |
2,282 [off 9.4%] |
159 [up 21.3%] |
9,081 [up 39%] |
| Terra Holdings |
$895k [up 7.5%] |
|
2,301 |
|
|
| Corcoran |
$937k [up 3%] |
$1,211 [up 5%] |
[off 53%] |
100 [up 16%] |
11,231 [up 32%] |
The trend lines are broadly similar across the three reports, but with maddening differences of degree:
Corcoran thinks transactions were off 53% year-over-year; Miller Samuel 'only' 9.4%
they both think inventory is up 30+% YOY
they both think days on market are up markedly
the range of median sales prices reported is pretty narrow, with all being up
Miller Samuel and Halstead are very close in reported transactions
so little to compare
The Manhattan Loft 4Q Numbers, 3 ways, with some year-over-year comparisons:
Lofts
|
median sales price |
avg price per foot |
transactions |
days on market |
inventory |
| Miller Samuel |
$2.05mm [up 42%] |
$1,268 [off 1.7%] |
156 [up 44%] |
160 [up 13.5%] |
698 [off 11%] |
| Terra Holdings |
|
$1,181 [up 1%] |
|
|
|
| Corcoran |
$1.88mm [up 4%] |
$1,255 [up 5%] |
|
|
|
The loft niche is under-reported in two of three Manhattan quarterly market reports, so comparisons among the firms is difficult (The Miller wins, by default, essentially). The Miller Samuel 156 loft sales must have a very different mix from the unknown number that Corcoran identified. Just looking at some Miller Samuel numbers, comparing the overall market to the loft market, the overall market has caught up tothe loft niche in days on market, but loft Miller Samuel's inventory moved opposite the overall market by a significant degree. The loft niche represented 6.8% of sales and 7.7% of inventory, a rough parity.
The full market reports from each firm for 4Q08 in pdf format are here for Miller Samuel, Halstead (I fixed the link in the Jan 7 dribs and drabs post), and Corcoran. I hit the nuggets of each on January 7 (Halstead), January 8 (Miller Samuel), and January 10 (Corcoran)
© Sandy Mattingly 2009
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View more entries tagged with: Market Reports, 4q, Miller Samuel, Halstead, Terra, Corcoran, Days On Market, Transactions, Inventory, Median Sales Price
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on matters of interest to Manhattan coop or condo loft apartment dwellers, buyers, sellers, and others, especially about New York City real estate
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