February Condo Sales Hit Historic Low Ahead of Busy Spring Season

March 30, 2015 — A couple of weeks ago, StreetEasy compiled some stats showing that, not surprisingly, sales of co-ops and condos tend to slow down in winter and rev up in spring. StreetEasy analyst Alan Lightfeldt calls February the turning point between winter and the busy spring season. But although sales were expected to be on the slow side last month, there were just 3,175 condo units available in February, down 2.4% from January — a record low for the borough. Lightfeldt adds that although there is no anticipated dip in prices, price growth will likely slow slightly in March, as spring sellers begin to flood the market with new units. The listings websites forecasts that prices will rise by 3.9% in 2015, compared with a 7.1% growth rate in 2014.