The Landhauser Group Blog

Below you’ll find the Prudential Douglas Elliman 4th Quarter 2010 Manhattan Market Report prepared by Miller Samuel. If you prefer, you can also listen to a podcast summary included below from the Housing Helix Blog of Jonathan Miller.

Podcast Summary: [Special Report] 4Q 2010 Manhattan Market Overview

Manhattan Fourth Quarter 2010 Real Estate Market Report

Jonathan Miller, president of Miller Samuel, who prepared Prudential Douglas Elliman’s data, described the data as a realignment of the types of homes that were selling, rather than individual apartments becoming more expensive.

”It’s not about prices rising,” he said. ”It’s about a final shift in the mix of sales.’

Miller said that year-over-year fourth quarter sales of two-bedroom homes had increased by around 12%, while studio and one-bedroom homes had fallen by 11%. The changes represented the return of the middle and high end of the market, with entry-level buyers making up a proportionally smaller share. The distribution was more consistent with historic sales data.

”My takeaway is, we’ve got this normal distribution of sales,” said Miller.

If you have any questions about the data or would like more analysis, please fell free to contact us.

Filed under: Market Reports by William Landhauser