As we sit here in August, it looks like not much has changed in the last two months.
Manhattan condo prices down
Prices, based on re-sales appear to be down roughly 25% in Manhattan. This is a very broad average. Some unit types, buildings and/or locations don't appear to be hit as hard, others have seen dips over 30%. Volume, depending on which report you read, is off at least 50% from the peak, and perhaps as much as 70%. But, there was a major uptick in May and June. August is usually very quiet, so we won't have a clear new picture until the september data arrives in about six weeks.
Brooklyn, Queens? It depends where.
Williamsburg, Greenpoint, Brownstone Brooklyn, and Long Island City are tracking Manhattan's market, although a few park slope brokers i've spoken to insist that the limited product in the heart of the slope is not down quite as bad as everything else (whereas the fourth avenue corridor is).
We will have further extensive posts on Williamsburg
Manhattan condo prices down
Prices, based on re-sales appear to be down roughly 25% in Manhattan. This is a very broad average. Some unit types, buildings and/or locations don't appear to be hit as hard, others have seen dips over 30%. Volume, depending on which report you read, is off at least 50% from the peak, and perhaps as much as 70%. But, there was a major uptick in May and June. August is usually very quiet, so we won't have a clear new picture until the september data arrives in about six weeks.
Brooklyn, Queens? It depends where.
Williamsburg, Greenpoint, Brownstone Brooklyn, and Long Island City are tracking Manhattan's market, although a few park slope brokers i've spoken to insist that the limited product in the heart of the slope is not down quite as bad as everything else (whereas the fourth avenue corridor is).
We will have further extensive posts on Williamsburg
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