Manhattan condo sales down, prices up in September
Fewer condominium were sold in Manhattan during September that any time in the past nine years for the month, according to Radar Logic. The real estate information company said its RPX Manhattan condo transaction count fell 25.1% from a year earlier and 23.1% from August, which are the largest declines recorded for the month in RadarLogic's decade of analyzing the data. Condo prices on the island rose 0.2% in September from the prior month, which is slower than the 1.8% increase in August and 3% gain in July, according to Radar Logic. Prices are up 7.8% from the year-ago September although "the magnitude of this increase may overstate the appreciation in individual units, as it was augmented by a shift in sales mix toward relatively large units that tend to command higher prices on a price per square foot basis than smaller units." While the Lower East Side was the only Manhattan neighborhood to experience a year-over-year increase in the number of condo transactions with a 16.7% gain in September, that's just 14 transactions vs. 12 a year ago and not exactly indicative of any significant increase in sales. The Upper West Side saw a nearly 41% drop in condo transactions in September from a year ago, according to Radar Logic. Write to Jason Philyaw.