Finally after two years of low volumes in the sales market, the first quarter of 2020 showed an increase in closings as sellers became more realistic about pricing.
It must be said that this trend, given it is based on closed sales, doesn’t fully reflect the most recent changes of the market conditions related to the coronavirus pandemic.
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This first quarter of 2019 was a quarter of contrasts: in January the closing of a massive apartment at 220 Central Park South set a new record for the pricest residential sale in the US…this $238 milion gigantic sale skewed the numbers for the average sales price and average price per square foot..so let’s focus instead on the median sales value which is more representative of the market.
In the first quarter of 2019 the median ...
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