Manhattan Monthly Market Report - November 2011

Marketwide Summary

November’s average price per square foot increased from last month and last year. Compared to November 2010, condo average price per square foot increased 9% and co-ops increased 4%.

There was a significant increase in the number of contracts signed over $2,000 per square foot this month, which drove average price per square foot up.

Market-wide median price increased from October and last November as there was a shift in contract activity to higher price ranges. Contract activity over $1MM represented 46% of total sales this month, while October sales over $1MM accounted for 33% of all contracts signed

Market Data: Statistics are based on Corcoran Groups Monthly signed contract data