The full report is available upon request.

Some highlights:

  • Fourth Quarter 2013 was the eighth consecutive quarter with double-digit year-over-year gains in signed contracts, reflecting volume growth driven by pent up demand
  • This was the twelfth quarter of year-over-year listing decline, as we continue to face historically below-average inventory levels. Inventory is currently 54% lower than its peak of 12,336 listings in the First Quarter of 2009.
  • Average price per square foot and median price increased market-wide since Fourth Quarter 2012.Market-wide price per square foot averaged $1,197, reaching a five-year high and approaching the Second Quarter 2008 all-time high of $1,261
  • New development (12% of 2013 closings) had a robust 32% increase in median price and a 19% increase in average price per foot.

Manhattan 4Q2013

NOTE: This is an abridged copy that does not include the Q4 data by neighborhood/area.