ANALYSIS ELLIMAN THIS SEASON
2Q / 2008 2Q / 2009 2Q / 2010 Manhattan Sales 2Q / 2011 Down to Historical 2Q / 2012 3. 2Q / 2013 2Q / 2014 Left: Malibu Norm Beach; below: 2Q / 2015 Manhattan After 2017’s second-highest spring market 2Q / 2016 sales total of the decade, the 2018 Manhattan 2Q / 2017 spring market fell to levels more in keeping 2Q / 2018 with pre–financial crisis norms. 0 500 1,000 1,500 2,000 2,500 3,000 3,500
20% $2,000 $1,756 15% $1,518 Although consumers have $1,500 $1,438 10% access to more housing $1,047 Market information than ever before, 5% $774 they are demanding additional 0%
insights about the markets $500 Update they select. These charts -5% -10% represent just a sampling $0 2016 2016 2016 2016 2017 2017 2017 2017 2018 of the ways we analyze the / / / / / / / / / 1Q / 2014 1Q / 2015 1Q / 2016 1Q / 2017 1Q / 2018 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q regional markets served by Douglas Elliman. Fort Lauderdale Recent Median Malibu Average Price per Square 4. YOY Price Trends Are Robust 5.Foot Keeps Climbing
300 Over the past two years, the median sales price of single family and Over the past year, Malibu has been one of the national hotspots of 274 268 259 condo sales in Fort Lauderdale year over year went from declining to luxury residential real estate, with a steady stream of trophy sales. 4+ BEDS 13.3% 250 250 rising sharply. Average price per square foot has surged 68% in the past four years, to 211 204 a record $1,756. 3-BEDS 28.3% 200 180
150 14.8% 138 $1,200,000,000.00 2-BEDS 126 Total Dollar Volume of Manhattan 100 1-BEDS 19.1% New Development Sales Over $10M $1,000,000,000 50 $1,130,770,024
STUDIOS 23.1% $800,000,000 0 The total dollar volume of new development contracts signed over $10 million has re- $891,486,782 0% 5% 10% 15% 20% 25% 30% 2016 2016 2016 2016 2017 2017 2017 2017 2018 mained strong since 2015. Late 2016 saw a surge in activity after the presidential election, / / / / / / / / / $827,163,392 $824,719,632 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q and the top end of the market attracted notable buyer attention in 2017. $600,000,000 $736,906,518 $728,162,123 $713,028,370 $702,376,107 $691,912,056 $675,385,528 Downtown, Hudson River–fronting new developments 160 Leroy and 70 Vestry each $675,535,420
$400,000,000 $619,647,136 $594,243,882 $582,902,507 Brooklyn Bidding War Market Greenwich Luxury Inventory in sold both penthouses in 2017, for a total of nearly $200 million in just four sales. In Mid- $566,417,794 $502,527,903 $510,300,103 town, 432 Park Avenue had more than $150 million in sales in just two transactions in the $501,411,787 $457,327,631 $453,737,729 Share by Size Q1-2018 Steep Decline as Sellers Get Real $447,704,596 1. 2. Fourth Quarter. $200,000,000 While 18.1% of all Brooklyn sales that closed in the first quarter sold After nearly a decade with an abundance of overpriced supply, Green- New development sales over $10 million during the first two quarters of 2018 totaled $343,752,260
above the last asking price, conditions were tighter in the starter mar- wich, CT, sellers began to get in sync with actual conditions. The 50% nearly $1 billion. This was boosted by 11 sales over $20 million, including two sales over $0 —Andrew Watchfogel, Senior Vice President of Research & Analytics, 2014 2014 2014 2014 ket, with one exception. The three-bedroom market was especially decline in supply largely represents the removal of overpriced listings. $30 million at 432 Park Avenue. 2013 2013 2013 2013 2015 2015 2015 2015 2016 2016 2016 2016 2017 2017 2017 2017 2018 2018 / / / / / / / / / / / / / / / / / / / / / / FROM TOP: NICK FOX/SHUTTERSTOCK; SONGQUAN DENG/SHUTTERSTOCK 1Q 2Q 3Q 4Q challenging to buyers, with 28.3% of sales going to bid. Douglas Elliman Development Marketing 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q
Data and analysis provided by Miller Samuel Appraisal and Consulting Services Figures may not include full contract data for some new developments not publicly reporting individual unit sales information, inc. 220 Central Park South, Central Park Tower, 520 Park Avenue, and 53W53.
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