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It’s encouraging how quickly the Manhattan housing marketrebounded since the credit crunch began, says Prudential Douglas Elliman CEO Dottie Herman, whose firm just released its quarterly overview with Miller Samuel. Dottie will speak on the state of the NY market at Bisnow’s annual Multifamily Summit on Jan. 28.
Prudential Douglas Elliman's Dottie Herman
Among PDE and Miller Samuel’s Q4 findings: a return to the normal distribution of sales, a comeback of both the luxury and middle market, a continuation of stabilized prices, and a modest level of inventory seen in the preceding quarter. Since Q4 '09, average sales price rose $1.5M, up 14.4%, while the number of sales fell 7.2% to 2,295. And the average days on market was 125, down from 204 this time last year. Want to hear more? Join Dottie as she discusses key multifamily trends at our event, which also features The Brodsky Org’s Dan Brodsky, Related Cos’ Bruce Beal, Jonathan Rose Cos’Jonathan Rose, AvalonBay’s Fred Harris, Meridian Capital Group’sRalph Herzka, Freddie Mac’s Mike Edelman, PREI’s Chip Walters, Dermot’s Stephen Benjamin, WeiserMazar’s Ron Lagnado, and Abacus Capital Group's Benjamin Friedman. Great networking too!Register here.