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

seller's market
market report
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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.
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phone 212.444.7844
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.

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