Manhattan Residential Sales Report - 3rd Quarter 2013

Market Report provided by The Real Estate Board of New York

Manhattan Condo Market Index for August 2013 increased by 1.2% since the previous month and by 9.9% since the prior year. Inventory decreased by 12.8% both from a year ago and since last quarter. Signed contracts increased by 10.0% from the prior year but decreased by 30.6% from the prior quarter. Price cuts decreased by 29.3% from last year and by 15.3% from last quarter. There were 8.4% more price increases than a year ago but 15.1% fewer than last quarter. Time on market decreased by 27.8% to just 95 days, compared to 131 days from the prior year.