To everyone's surprise, house construction starts around the country leaped 22.2 percent in February after seven months of decline, but home sales are still slow, and the number of foreclosures are higher than ever. While some signs are pointing to the positive, the market is sending mixed signals.
In New York City, house construction is moving along, but sales are down, according to statistics gathered by Streeteasy.com. Streeteasy is a trusted source for listings and statistics on newest sales in the city.
Newly posted on Streeteasy is a two-bedroom condo in Gramercy Park for $1,880,000. And 1048 days on the market is a three bed/three bath condo on Park Ave. in Lenox Hill, going, or rather, not going, at $14,449,500. Another unit in the same building boasting four bedrooms and six baths is one of the most expensive listings at $51,000,000.
For those interested in purchasing in Brooklyn, prices are dropping. The Edge condos in Williamsburg and Elan in Park Slope were major price movers last week. Prices for nine of 53 of The Edge's available units decreased and 18 out of 20 for Elan's listings decreased.
Sold Last Week
Of 10,291 listings for condos in all of New York City, only five were sold last week, compared to 39 the week before. Of last week's five buyers, Jennifer and Marcus Robinson purchased their 896 square-foot condo in East Brooklyn for $248,614.
A total of 17,000 apartments were on the market last week with a median price of $3,000 for $900 square feet. The least expensive rental listing is way uptown in Hamilton Heights: a 300-square foot studio for $650. For $895, a 600-square foot apartment
No surprises here—just some eye-popping numbers. In Manhattan, hotspots for new developments remain Chelsea (48), Tribeca (40), and Midtown West (24). The Upper West Side has some slated developments also (18). Keep an eye out for Central Harlem—they have a whopping 74 new developments planned.
In Brooklyn, Williamsburg (111), Clinton Hill (31), and Park Slope (29), take the lead and in Queens, Long Island City (27), and Astoria (14) prove to be popular.