Tuesday, April 1, 2014

Offer of apartments in Manhattan, at its lowest level

The market for homes in the New York island fell in the second quarter.

" The real estate business is experiencing record lows Manhattan but, surprisingly, is also seeing an increase in the number of sales ," said the firm in its study, which reports every three months.

Between April and June last had on the island, one of the most crowded in the world, a total of 4,795 apartments on the market , 31.3 percent less than in the same three months of 2012 and its lowest level since started preparing the report 12 years ago .

The current offer is far from the 12,336 apartments that came to be available in Manhattan in the first quarter of 2009, at the height of the deepest and longest in the United States since the Great Depression of the 30s crisis.

Despite the shortage of inventory, real estate sales in Manhattan jumped 18.8 percent in the second quarter to 3,144 , which is the most active spring in terms of sales since 2007 , again according to the report.

Therefore , prices rose in the last three months by 4.3 percent year on year , so an apartment in Manhattan costs on average about $ 865,000 . "After years of uncertainty among consumers that culminated in the presidential elections and the fiscal cliff in late 2012 , demand accelerated in 2013 and this slightly pushing up prices," the report concludes .

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