Corcoran Monthly Market Snapshots December 2017

Signed contracts down 22% to 308 from 396 last month and down 24% year-over-year from 404 in December last year
Inventory up 4% year-over-year to 3308 units from 3171 units in December last year and down 14% from 3836 last month
Average price per square foot up 11% year-over-year to $1944 from $1752 in December 2016 and up 11% from $1757 last month
Average sale price up 23% to $2,815,172 from $2,283,090 in December 2016 and up 26% from $2,233,077 last month
Days on market up year-over-year to 163 days this month vs 125 days in December 2016 and up from 118 days last month

CO-OP MARKET

Signed contracts down 14% to 410 from 474 last month and down 8% year-over-year from 448 in December last year
Inventory up 5% year-over-year to 2388 units from 2273 units in December 2016 and down 21% from 3036 units last month
Average sale price down 24% to $1,204,743 from $1,579,485 in December 2016 and down 6% from $1,280,982 last month
Days on market up year-over-year to 94 days this month vs 90 days in December 2016 and down from 111 days last month

Combined coop and condo market showed signed contracts down 28% to 236 from 330 last month and down 38% year-over-year from 382 in December 2016
New Listed Apartment Inventory down 13% year-over-year to 273 from 313 in December last year and down 42%* from 474 apartments last month
*the large decrease is attributed to the selling season slowing down during the holidays
Average price per square foot is up 18% year-over-year to $908 from $770 in December 2016 and up 6% from $854 last month
Days on market up year-over-year to 91 days this month vs 57 days December 2016 and up from 76 days last month

Statistics vary from neighborhood to neighborhood. For specific market information regarding a particular neighborhood, please contact me.