Mitchell, Maxwell & Jackson, Inc.

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For The Week
Ending 09/26/2008
Manhattan
Purchase Index: 16
Was: 17

6%
52 Week High: 172
52 Week Low: 44

For The Week
Ending 09/26/2008
Manhattan
Refinance Index: 10
Was: 15

33%
52 Week High: 84
52 Week Low: 9

For The Week
Ending 09/26/2008
30-Year Fixed Rate
At: 6.07%
Previous Week: 6.08%

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

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Market Measure Residential Real Estate Report
1st Quarter, 2005

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

The average sale price rose for the 8th consecutive quarter, 8.5% above the fourth quarter 2004 to close at $1,005,743 compared to $927,152. The record high was 25% above the 1st quarter 2004 average of $802,248.

Mega-Million Dollar Sales Increase - The percentage of all sales over the $1 million mark rose from 27% to 30% including ten sales above $10 million and five over $20 million. The average price per square foot for the top ten was $3,106 and were comprised of 50% cooperatives and 50% condominiums on the upper East and West side. Million dollar sales accounted for only 22% of all transactions one year ago.

New Development Sets Record - Four new condominium sales recorded at 25 Columbus Circle ranged in price from $24 to $29 million. Known as the AOL Time Warner Center, the four sales boosted West Side sales prices to record levels for the highest average sale price for any neighborhood in Manhattan and highest quarterly percentage increase, up 40%.

1st Quarter Residential Sale Price Up 8.5%

1st 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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