New Development Monthly Market Report via StreetEasy

Street Easy brings us their monthly New Development Market report for New York City, Brooklyn and Queens.  The highlights below.

Please click on the link below to download our two-page report. http://docs.streeteasy.com/market_reports/2012M2_NewDev_Report.pdf

NOTABLE FINDINGS

Manhattan

• Median listing price in Manhattan increased by 9.5% since six months ago and by 6.8% since a year ago.
• Overall inventory has remained very stable with only a 0.3% change since the prior year.
• With 42% more contracts signed compared to a year ago, the number of months’ supply is now at 6.8, compared to the prior year, with 13.4 months.

Brooklyn & Queens

• In Brooklyn, inventory has been shrinking but contract activity has increased 40% in the last six months and by 37% since a year ago.
• In Queens, inventory increased by 14% since August and by 29% since a year ago. Price increases also rose by 30% since a year ago.