Manhattan Market Report: The Past 10 Years

Over the past decade, the prominent keyword for the Manhattan real estate market would be “luxury.” Sales of 4+ bedroom properties rose more than 90% as developers popped up high-rise after high-rise and celebrities, international investors, and hedge funders made record-setting purchases. While the past year has shown a bit of a reset after a multi-year boom, there is no denying that the past 10 years have been kind to those who invested in NYC real estate. Here are 5 key numbers from then and now:

  1. Average Sales Price 2009: $1,393,001 Average Sales Price 2018 $1,979,275 = 42.1% increase
  2. Median Sales Price 2009: $850,000 Median Sales Price 2018 $1,075,000 = 26.5% increase
  3. Number of Sale 2009: 7,430 Number of Sales 2018 10,227 = 37.6% increase
  4. Average Days on the Market 2009: 179 Average Days on the Market 2018 101 = 43.6% decrease
  5. Average Discount from List Price 2009: 10.2% Average Discount from List Price 2018 5.2% = 5% more for sellers

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