Key points of this Manhattan Property Market Update
Sales volume: Condo sales volume was 47.6 percent higher than prior year. This is positive as we are still experiencing limited inventory and high mortgage rates.
Cash buyers: The market share of cash buyers in Q1’2025 was at 58 percent, higher than the historical average of 50 percent.
Price per sqft and median price: In the condo market, price per sqft is at $2,130 while median price at $1.725 million. After a few years of slowdown, price per sqft is now close to 2017’s peak of $2,149.
Read the full article here: Manhattan Property Market Update
About:
Wei Min Tan is a Manhattan, New York property broker focusing on global investors of Manhattan condominiums. Wei Min has been interviewed by CNBC, CNN, Wall Street Journal and New York Times on the Manhattan property market. Wei Min can be reached at tan@castle-avenue.com
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