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Elliman Report: Manhattan Townhouse 2004-2013
…The Manhattan townhouse market showed price stability in 2013. Median sales price edged 2.6% higher to $3,591,250 as average sales price declined 8.2% to $4,828,445 over the same period. However, limited supply kept the market moving at the fastest pace in 17 years. The 17.7% rise in sales and 16.5% drop in supply pressed the absorption rate, the number of months to sell all listing inventory at the current pace of sales, to a 17 year low of 12.6 months. As a result of the faster overall market pace, days on market, the number of days from the last list price change to contract date, slipped a modest 3 days…
