Price Changes: 279 in Past 7 Days

Posted by urbandigs

Mon Apr 30th, 2007 01:37 PM

A: Lets make it a data day until I have to go on appointments. In the past 7 days there were 279 price changes. Unfortunately a price change does NOT necessarily mean a price reduction, although the number of price increases is minimal in comparison to the number of price cuts! I also charted the weekly price changes over the past 8 weeks so you can look for any trends. Other than a 17% increase in total number of price changes, its hard to see any clear trend other than the last 3 weeks have sustained the number of price changes.

Neighborhoods included: Beekman, Carnegie Hill, Central Park South, Chelsea, Clinton, E. Village, Fin District, Flatiron District, Gramercy, G Village, Little Italy/Chinatown, LES, Midtown, Murray Hill, SoHo, Sutton Area, Tribeca, UES, UWS, W. Village

Here is a chart showing the # of price changes per week for the past 2 months!

price-changes-manhattan-real-estate.jpg

Umm, Jonathan Miller where are you? I guess the best way to analyze this is to add up the total number per month. When I do that I get:

# Price Changes in March --> 777


# Price Changes in April --> 913


So, there was approximately a 17% increase in total price changes for the neighborhoods mentioned in Manhattan for the month of April compared to the month previous.

Of particular note are these high end price reductions that I see occurred in the past 7 days!

213 W 23rd St; Apt 7-8N

213-w-23rd-nyc.jpg

First Came on Market: 10/11/2005
Original Asking Price: $11,000,000
Asking Price NOW: $7,500,000
maintenance: $1,500
RE Taxes: $3,081
Size: 7,000 SFT
PPSF: $1,071 (again, not bad considering product)
Marketed By: Gross, Steinberg, Williams & Senequier of Douglas Elliman

111 East 85th Street; Apt 8DEF - 9E

111-e-85th-duplex.jpg

First Came on Market: 3/19/2007
Original Asking Price: $4,950,000
Asking Price NOW: $4,500,000
maintenance: $3,570
Size: 4,200 SFT
PPSF: $1,071 (not bad considering product)
Marketed By: G. Laurie Cooper



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