The FIDI Report: 3Q18
In Q3 2018, FiDi saw similar slowing market trends to the rest of Manhattan. Prices are dropping and the number of transactions has decreased by a dramatic 50% YoY and 21% QoQ. The average price dropped by 51% YoY to $1,205,818, which was a 16% drop QoQ. Median prices have seen correspondingly significant drops as well. While all layouts have seen a decrease in number of units transacted, studios have fared relatively well in retaining their price per square foot value with a small increase, 1.6% YoY and 1.4% QoQ, to $1,269psf. • Two bedrooms accounted for the largest drop in number of units sold with 63% YoY decrease.
• Two bedrooms actually saw a significant 27% increase in ppsf QoQ, but are still down 5% YoY.
• Three bedrooms were hit the hardest with a 57% drop in average price YoY and 24% QoQ.