Manhattan Condo Sales Statistics

Residential sales at market value were 342 in October, showing a 7 percent drop from a month ago and down 16 percent from the year-over-year period. Transaction volume in October capped at $606 million, a 3 percent decrease from the volume seen in September; falling 19 percent from October 2009. Manhattan's average sale price in October, at $1,771,487, reports a 5 percent increase from a month ago, although down 3 percent from last year at $1,831,416. The average square footage, at 1,278, decreased by 1 percent from a month ago, with the average price per square foot at $1,208. Reporting little change from October 2009, the average square footage was 1,256 and the average price per square foot was $1,238.

In October, nationwide home construction reportedly dropped to the lowest level seen over the last 18 months. The National Association of Builders recently reported home builder confidence failed to show desired signs of improvement during the month of October. With a positive housing market index indicated as 50 or better, a reading which hasn't been seen since April 2006, survey results from 420 builders on the outlook for single-family home sales put the final index at 15 in October. Meanwhile, developers are reintroducing incentives again to sell stalled units, including increasing broker commissions and property opening incentive parties.

Average apartment price in October 2010

South of 14th Street received the greatest sales in October at 81; Upper West Side, 70; Midtown East, 61; Midtown West, 59; Upper East Side, 47; and, North of 96th Street, 24. Two-bedroom sales at 113 sales; one-bedrooms, 105; three-bedrooms, 46; studios, 49; and units with four bedrooms or more received 29.