Mitchell, Maxwell & Jackson, Inc.

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For The Week
Ending 07/25/2008
Manhattan
Purchase Index: 20
Was: 26

23%
52 Week High: 172
52 Week Low: 44

For The Week
Ending 07/25/2008
Manhattan
Refinance Index: 13
Was: 12

8%
52 Week High: 84
52 Week Low: 9

For The Week
Ending 07/25/2008
30-Year Fixed Rate
At: 6.46%
Previous Week: 6.59%

52 Week High: 6.86%
52 Week Low: 5.98%

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Market Measure Residential Real Estate Report
2nd Quarter, 2005

For an full version of this report in a PDF format, please click here.

The average sale price rose for the 9th consecutive quarter, up 12.8% above the 1st quarter of 2005 to close at $1,134,037 compared to $1,005,743. On an annual basis, the record high was 34% above the 2nd quarter 2004 average of $847,338. The rise was the second highest percentage increase since the 3rd quarter of 1998.

New Development Spurs East Side Market - New condominium sales on the East Side contributed to the 14% rise in average sale price as compared to the first quarter. On an annual basis, Midtown was up the most, 39% ahead of Q2 2004, followed by the Downtown average sale price which is up 37% for the year. The West Side annual average rose 31% and the Eastside at 29%. .

Million Dollar Sales Edge Up - The percentage of all sales between $500,000 and $1 million, rose from 39% to 42% while sales over the $1M mark rose slightly to represent 31% of all transactions. On an annual basis, sales volume below $350,000 has fallen from 20% in the 2nd Quarter of 2004 to only 8.5% by Q2 2005.

2nd Quarter Residential Sale Price Up 12.8%

2nd Quarter Sales Statistics

For an full version of this report in a PDF format, please click here.

About MMJ & Market Measure: This report examines sales of residential cooperatives and condominiums that sold in excess of $75,000, south of 96th Street in Manhattan. Geographic areas are defined as follows: East & West Side from 59th to 96th Street, Midtown from 59th to 23rd Street, Downtown south of 23rd Street. As the largest residential real estate appraisal company in the Tri-State area, MMJ is the most comprehensive source for market analysis, forecasts, and related data.

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