Real Estate Market Report
Summary
A new report reveals that over a third of Manhattan condo resales in the past year resulted in a loss for sellers, marking a “lost decade” for price growth. However, the luxury market segment, particularly apartments sold for $10 million or more, was a notable exception, achieving double-digit profits.
Key Points
- Widespread Losses: One in three condo resales between July 2024 and June 2025 were sold at a loss. Factoring in inflation and transaction costs makes the effective loss share even higher.
- Stagnant Long-Term Prices: Manhattan’s median price per square foot is essentially flat compared to a decade ago, contrasting sharply with substantial price gains in most other U.S. markets.
- Purchase Timing is Key: Owners who bought before 2010 saw median gains of 29-45%. Those who bought post-2016, near the market peak, were the most likely to sell at a loss.
- Luxury Market Outperforms: The top of the market, especially apartments over $10 million, generated double-digit profits regardless of purchase timing, driven by wealth concentration and all-cash purchases.
- High Transaction Costs: Buying and selling costs in Manhattan can range from 6% to 10%, further eroding seller profits.
- Inflation Impact: When adjusted for 36% inflation over the past decade, a condo sold for the same nominal price as it was bought represents a significant real-term loss.
房地产市场报告
总结
一份新报告显示，在过去一年中，曼哈顿共有公寓转售中有超过三分之一以卖家亏损告终，标志着价格增长经历了”失落的十年”。然而，豪宅市场板块，特别是售价超过1000万美元的公寓，是一个显著的例外，实现了两位数的利润。
关键点
- 普遍亏损：在2024年7月至2025年6月期间，每三套共有公寓转售中就有一套以亏损价售出。若将通货膨胀和交易成本计算在内，实际亏损比例更高。
- 长期价格停滞：曼哈顿的每平方英尺中位数价格与十年前基本持平，与美国大部分其他市场的大幅价格上涨形成鲜明对比。
- 购买时机是关键：在2010年之前购买的业主获得了29%-45%的中位数收益。在2016年市场峰值附近购买的业主最有可能亏损出售。
- 豪宅市场表现优异：市场顶端，特别是售价超过1000万美元的公寓，无论购买时机如何，都产生了两位数的利润，这得益于财富集中和全现金购买。
- 高昂的交易成本：在曼哈顿，买卖成本可能高达6%到10%，进一步侵蚀了卖家的利润。
- 通货膨胀影响：考虑到过去十年36%的通货膨胀率，一套公寓若以与购买时相同的名义价格售出，实际上代表着巨大的实际价值损失。
Original Article Link: https://www.cnbc.com/2025/10/25/one-in-three-manhattan-condo-owners-lost-money-when-they-sold-in-the-last-year.html