Residential Real Estate Sales Generate Approximately $1 Billion in Commissions Annually for Brokers & Agents in Manhattan

Real Estate Sales In New York

  • According to Miller Samuel's 2003-2012 Report, there were approximately $16.4 billion in residential apartment sales in Manhattan in 2012 (including condos, co-ops, and townhouses)
    • 10,508 CONDO and CO-OP sales with an average sales price of $1.4 million representing total sales volume of approximately $14.9 billion
    • 277 TOWNHOUSE sales with an average sales price of $5.3 million representing total sales volume of approximately $1.5 billion
  • At an average commission of 6%, the market represents approximately $981 million in gross commissions to real estate brokers and agents

Real Estate Rentals In New York

  • There are over 2 million rental units in NYC with a vacancy rate of less than 2%
  • According to CitiHabitats, the average rent for an apartment in Manhattan is greater than $3,000
  • The data above indicates the strength and size of the New York apartment market

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