26 Thursday Jul 2012
Posted in tribeca sales
With the summer in full swing the Tribeca market has come to a slow period with June (15 sales) and July (current total) having 13 closed sales. Down from the peak month of volume in March which saw volume in the 30′s.
The market is still weak in terms of inventory levels which have kept the buying experience difficult. More owners are coming out with more aggressive pricing and the lack of selection has slowed the sales cycle.
09 Monday Jul 2012
Posted in tribeca sales
Tags
apartments in tribeca, tribeca, tribeca apartments for sale, tribeca condo sales, tribeca lofts, tribeca lofts for sale
June’s sales numbers have just been processed and we can see the natural cycle of the market as sales slow down into the summer months.
Notes:
Volume in June was 2nd lowest and the average listing discount on sales was the smallest. As inventory shrinks, listing discounts are becoming tighter due to high demand.
Larger, more expensive units dominate the sales of Tribeca condos.
| Jan | Feb | Mar | Apr | May | June | |
| Median Sales Price | $2,455,000.00 | $2,050,000.00 | $2,706,000.00 | $2,350,000.00 | $3,168,750.00 | $3,350,000.00 |
| Composition of sales: | ||||||
| Sales < $1MM | 1 | 2 | 1 | 0 | 2 | 0 |
| Sales 1MM – 2MM | 3 | 6 | 7 | 3 | 2 | 4 |
| Sales 2MM – 3MM | 3 | 4 | 10 | 10 | 4 | 3 |
| Sales > $3MM | 3 | 5 | 15 | 5 | 9 | 8 |
| Median Sales Price: | ||||||
| Sales < $3MM | $1,685,000.00 | $1,893,750.00 | $2,110,000.00 | $2,240,150.00 | $1,991,196.00 | $1,825,000.00 |
| Sales > $3MM | $4,913,056.00 | $4,700,000.00 | $5,193,075.00 | $3,550,000.00 | $4,330,000.00 | $3,758,306.00 |
| Avg PPSF: | ||||||
| Sales < $3MM | 1026 | 1130 | 1328 | 1334 | 1301 | 1268 |
| Sales > $3MM | 1450 | 1787 | 1763 | 1416 | 1713 | 1621 |
| Listing Discount Avg | 2.84% | 4.92% | 4.95% | 5.35% | 2.61% | 2.35% |
