The Midyear 2017 #Longislandcity Condominium Report
August 2017
Dear Readers,
I am very happy to share our findings from The Midyear 2017 Long Island City Condominium Report.
The market continued to grow in midyear 2017:
- Average and median sales price and price per square foot reached new records.
- Median sales price exceeded $1 million for the 1st time.
- The Luxury Market made significant gains with the market share of $1 million + sales, the market share of cash sales and the top 10% of the market, based on average sales price, all increasing to record levels.
- New development inventory is 70% sold (or under contract).
Please email me at [email protected] for a complimentary copy of the report.
The purpose of our market reports is to make the Long Island City real estate market more transparent and to help owners, sellers, buyers, investment partners and real estate developers make well informed decisions.
We welcome your feedback so please feel free to contact me if you have any questions or if you would like a specific aspect of the market analyzed in our future reports.
Best Regards
Patrick W. Smith
212.380.8184