It is our pleasure to inform you that Corcoran has released its Fourth Quarter Corcoran Report, our quarterly survey of residential real estate sales in Manhattan. This report compares data based on deals that closed in 4Q 2010 (October 1 through December 31) with those closed in the prior quarter and in the same quarter one year ago.
The Manhattan market showed continued resilience in 2010 in yet another sign that the economic recovery has found its footing. Market-wide sales transactions in 2010 enjoyed a 20% increase compared to 2009 as consumers were encouraged by stabilizing prices and attractive mortgage rates. In addition, shrinking inventory brought competition to many listings, with studios and one-bedroom residences seeing particularly strong demand in the Fourth Quarter.
The median sale price in the Fourth Quarter was up 3 percent market-wide from a year ago at $825,000 while the average price per square foot held even at $1,030. Yet due to seasonality and the demand shift from larger to smaller apartments, overall pricing declined 5% from the Third to the Fourth Quarter of 2010.
This Braswellian Life 
Posted on January 12, 2011
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