The Big Apple: Rents up, condo owners sinking

Luxury markets pulls up Q2 average price, though volume declines

Overall sales volume of condominiums and cooperative apartments in Manhattan has been off about 11 percent so far in the second quarter compared with same period last year, according to a Wall Street Journal analysis of the city’s data.

A year ago, the market was bouncing back strongly from the after-effects of the financial crisis.

Prices have remained flat. Data on closings show that median prices in the second quarter were 1.2 percent below prices during the year-earlier period, while average prices rose by 1.5 percent.

The average price for a Manhattan apartment was about $1.39 million in the latest period. The figures are based on closings filed with the city as of 15 days before the end of each quarter.

Russians are invading Continue reading

Advertisements

Weekly Roundup: Rents up, prices down, more!

Here’s your chance to catch up with news included to inform, enlighten and perhaps even entertain you. To read about The Big Apple, check out the other of today’s posts and look for Out and About early next week.

Designing man nails duplex on the Village’s ‘Gold Coast’

Star in the city and hubby succeed in buying a townhouse with after really trying

Actress looks forward to selling the condo she vacated three years ago after her drug arrest

Former homes of the rich, famous or both can be yours

Listed at $33 million in 2009, his New Mexico ranch has found a buyer after price cut to $18.5 million

With house under contract, a TV doctor is moving up in Beverly Hills to one twice as expensive (2nd item)

Obama administration’s March scorecard inevitably concedes weak housing nationwide

Market tightens for rental housing

While showing stability, February prices are below Continue reading