Manhattan, NY (PRWEB) August 20, 2013
The report for the real estate market of the Manhattan townhouses is out and from the figures available, it is clear that the sale of the townhouses shows an improvement when compared with the first quarter of 2013, but it is far behind when figures for the same quarter a year earlier are considered.
Of the total closings of townhouses during the second quarter, most have been in the Upper East Side area as its share of transactions stood at 43.5% followed by the Downtown area. The average sale price has decreased overall when compared with the same quarter last year and the first quarter of 2013. The percent change figures for the said quarters stand at 12.1% and 10.7% respectively.
However, the median price has shown a slight improvement than last year as the figures show an improvement by 1.2%. Nevertheless, the median price has gone down by 13% since the first quarter of 2013. Therefore, these figures indicate that though the sale of the townhouses in Manhattan may have improved in this quarter, they are not as much as they were a year earlier. In addition, the prices have gone down when compared with the first quarter but have been more or less the same when compared with 2012.
Overall Average Price of a Manhattan townhouse is $6.3M and overall Median Price is $5M. Median prices by neighborhood are Downtown $6M, Midtown $3.8M, Upper West Side $6.4M, Upper East Side $5.25M and Upper Manhattan $3M.
Manhattan Townhouse Market Report Q2 2013 by Kelsey Uh