New York, NY (PRWEB) September 30, 2016
CityRealty.com (CityRealty) today released 15 new NYC real estate indices on its Market Insights page, drawing from meticulously vetted public data to highlight trends in condominium prices across a variety of metrics. The expanded index portfolio adds to indices CityRealty.com first launched in April 2013, tracking prices by categories that include architects, building types, neighborhoods, and building age. Among the new indices are a Second Avenue Subway Condos Index, a Starchitect Condos Index, a 1980s Condos Index, and a High-Rise Condos Index.
“Expanding our index offerings helps CityRealty.com offer an even more granular analysis of the New York real estate landscape,” said Daniel Levy, CEO and founder of CityRealty.com. “Our indices break through the market’s complexity to provide clear, accurate, and easily accessible snapshots of the market to the public.”
For example, an index tracking prices for condos built in the 1990s finds that they are actually more expensive than those built in the 2000s. Another shows that the price per square foot of condos located near the upcoming Second Avenue subway has shot up by 14% in the last 24 months.
High-rise condos (50+ floors) command higher prices per square foot than large condo buildings (300+ units) on average, but large condos’ prices are more stable, steadily increasing from around $1,000 to around $1,500 since 2010. High-rise condos fell from roughly $2,800 per square foot in 2014 to $2,000 per square foot by the end of 2015, but rose back up to almost $3,000 by mid-2016.
CityRealty.com’s market indices provide both a visualization of New York condo sales data and an interactive interface through which users can search for developments and areas of interest, view and compare sales data, and examine the buildings and the sales involved in calculating yearly averages.
CityRealty.com first launched its indices in April 2013 with The CityRealty 100, an index tracking the performance of the top 100 residential condominiums in Manhattan. The index is the recognized standard for measuring the value of the Manhattan luxury condominium market. CityRealty.com will release the next edition of this biannual report on November 1.
The full portfolio of indices can be found here.
CityRealty.com is the website for NYC real estate, providing an end-to-end service for prospective apartment buyers including listings, in-depth analysis and guidance on the New York real estate market, and referrals to agents at top brokerages. Additional original research by CityRealty.com can be found here.