What's My Platinum Condominium at 247 West 46th St Worth?
Market Report for March 2015
∙ Condo Units Currently Active on the Market: 8
∙ Condo Units Closed in last 60 Days: 2
∙ Condo Units “In-Contract”: 4
∙ Average Price per Square Foot for Sales in the Last 12 months: just under $1600 per square foot
∙ Average Sales Price to List Price Ratio: 97.3%
∙ Average Days on Market until a Contract is Executed: 115 Days
On the surface it appears that the Platinum Condominium is an extreme seller's market but let's look at the numbers more closely to interpret what they tell us about what your apartment will sell for.
1. Average Sales Price to List Price Ratio: This number reflects what percentage of the sales price of an apartment actually sold. At 97.3%, the number is relatively low in comparison to condominium sales as a whole throughout Manhattan. Condo sales as a whole in Manhattan, the overall sales price to list price ratio has been hovering around 96%, indicating that the Platinum is performing very well.
2. Average Days on the Market: The Average Days on Market indicates the amount of time from when a property entered the market to when a buyer and seller both signed contracts. The Average days on the market has been approximately 115 days, outperforming the condominium market which has been averaging approximately 145 days.
How Can you Use this Information to Achieve a Better Price for your Apartment:
Low Inventory combined with strong buyer demand has pushed PRICES UP. With rising prices, most sellers have the equity needed in order to sell to move up to something bigger or shift the equity in the apartment into something else. Combined with the Spring market and the increase buyer demand that we will see, now is a perfect opportunity to see what your apartment is worth.
FIND OUT HOW MUCH YOUR CONDO CAN SELL TODAY
We will provide the most accurate and fair market price to your condo unit based on most updated data, call us now.