boutique marketing for apartments, lofts, townhouses, and mixed-use buildings. | January 2013  


seller's market
market report
download the latest report
2013 opens with a strong market for sellers. The Manhattan market has clearly recovered. Available housing inventory in the Fourth Quarter of 2012 logged its seventh consecutive year-over-year decrease, reaching its lowest point in seven years.  With such limited choices available to them, prices have continued to rise: median price is now $827,000 (up 8% versus Q4 2011) and price per square foot is $1076 (up 3% versus Q4 2011). That means that demand is far exceeding available inventory. I have buyers waiting to see the right home in almost every size category.
 
Apartment and loft sellers that have asked me for a market opinion recently, have been surprised at how robustly the market has turned around. Luxury properties are up 7% year over year. Downtown buyers found coops to be very desirable homes, driving pricing up year over year in one bedroom (+4%), two bedroom (+20%) and three bedroom (+54%) categories. I also market townhouses and live/work, mixed-use buildings, as homes and investments. I have simply never seen demand higher for them in Manhattan and brownstone Brooklyn. I help sellers acheive maximum value for their properties. 

 

The overview is in Corcoran's current Market Report. Download your copy here. How does it apply to your property? Ask me for a free analysis of what your apartment, loft, townhouse, or building is worth. That answer may surprise you.
 


About Peter Comitini: As a Senior Vice President and Associate Broker with The Corcoran Group, Peter Comitini is a top producing agent representing Manhattan apartments, townhouses, and investment properties. He's a member of Corcoran's exclusive 'Multi-Million Dollar Club' and was recently cited as ranking in the top 1% of his company's real estate professionals nation-wide. Peter's highly creative approach, produces outstanding value for people. He brings a wealth of experience and enthusiastic representation to every client.
 
 
Find Peter Comitini on Facebook   View Peter Comitini's profile on LinkedIn   follow Peter on facebook and linked-in

phone 212.444.7844 pcc@corcoran.com
  
The Corcoran Group 636 Sixth Avenue New York NY 10011   
 
 
Peter Comitini, Vice President, The Corcoran Group Real Estate
boutique marketing for apartments, lofts, townhouses and buildings.
 

We hope that you enjoy receiving these periodic updates. You can choose to unsubscribe using the links below at any time.