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Soaring interest rates, stubbornly high house prices, and volatile economic conditions have helped to plunge affordable housing prices. Low price for the first time in 15 months In May, but both prices and sales volume continued to rise in the second quarter, Manhattan homebuyers were rarely discouraged.
Average selling prices for Manhattan condos and co-operatives rose 5.5% quarter-on-quarter and 10.6% year-on-year to $ 1.25 million, according to data compiled by Douglas Elliman appraiser Miller Samuel, before set in 2019. I broke the record.
Sales activities continued to be strong. According to the report, more than 3,800 condominiums and co-operatives were closed in April, May and June. This is the highest in the second quarter of the last 15 years and the fourth highest in any of the past quarters.
However, the bounce is inconsistent throughout the autonomous region. Price increases in West Village and the Upper East Side far outweigh the price increases in Manhattan as a whole. In other regions, average prices are lower than they were a year ago.
To get a sense of the 10 most expensive districts of Manhattan Genuine We analyzed all residential real estate transactions, including condominiums, co-operatives and townhouses, recorded in the city’s register in the second quarter. This survey only considered neighborhoods with 10 or more sales.
West Village topped the list with an average selling price of $ 3.79 million in the second quarter. The most expensive deal in the downtown neighborhood was Townhouses on 26 Bank Street, which set a record for $ 18.4 million in April. The 4,600-square-foot home was owned by Connie Milstein of the Milstein Real Estate Dynasty. I bought a property Listed it in 2017 with her brother Philip for just under $ 18 million $ 20 million February 2021.
West Village’s average selling price soared 72% year-on-year, but the sample of 47 transactions is small, 29% lower than in the second quarter of last year.
The nearby Tribeca was second on the list with an average selling price of $ 3.16 million in 10 transactions. The top deal in Tribeca in the second quarter was a townhouse at 27 Harrison Street, which sold for $ 6.8 million.
Carnegie Hill, third on the list, had an average selling price of $ 2.94 million in 65 transactions. The neighborhood’s top sale was $ 26.5 million in a six-story townhouse on 15 East 88th Street.
St. David’s School, 8th Grade Men’s Academy from Private Pre-Kindergarten, I bought a house In May, it expanded another 12,000 square feet from the main building on nearby 12 East 89th Street.
Greenwich Village ranked fourth with an average price of $ 2.53 million in 58 transactions, including the largest private sales in the top five regions.
In June, Chipotle founder Steve Ells turned over a townhouse on 27 East 11th Street. $ 35 millionJust a few months after buying the property for $ 29.5 million.
Soho concludes the top five with an average selling price of $ 2.53 million for 18 transactions, down about 20% from last year. The top deal in the neighborhood was $ 6.7 million for a co-operative on 75 Grand Street in May.