As I mentioned in last month’s overview, I expected 2014 to be the best year yet
for my firm, Brown Harris Stevens.
That was indeed the case:
the firm sold $4.2 billion in Real Estate during the year, which was 7% higher than in 2013, with only 3% of the agents working in New York City.
Here are a few fun statistics for you.
In 2014, we sold:
- 4 out of the 5 highest priced properties in New York City
- 6 out of the top 10 highest priced properties
- 50% of top 30
- 32% of the top 100
Strength at the High End
That said, these numbers, when looked at in more detail, show a real dominance across coops, condos and townhouses. In 2014, we sold:
- 4 of the top 5 coops
- 8 of the top 10 coops
- 46% of the top 30 coops
- 39% of the top 100 coops
- 47% of all coops priced over $10mm
- 75% of all coops priced over $25mm
- With condos, we sold 40% of the top 10 resales, all of which were over $25mm (removing new development from these numbers)
- We also achieved the
highest price paid for a townhouse in 2014
And yet, nearly 40% of our firm’s sales were under $1mm, and 25% were between $1-2 million (with the remaining 35% above $2mm).
Our average sale price was its highest, too, at $2.75mm.
The statistic I love most is that 32% of our listings were sold in-house between brokers, which has been consistently over 30% for many years.
This proves our strength with buyers and sellers and a value-add beyond what any other firm can offer.
The domination of the high-end of the marketplace, combined with a strength of marketing below $2mm, continues to provide a buoyancy and optimism for the firm’s ownership.
I begin my 9th year with the firm; I, too, am very optimistic about our market share and ability to do a phenomenal job for the buyers and sellers we represent.
We were able to also have our best year in 13 years in residential real estate, selling 36 apartments and nearly $75mm in Real Estate across Manhattan, with terrific rental and Brooklyn partnerships that give us extensive market reach.
I’ll cover a bit more about the optimism, pessimism and lack of a clear view of the market for 2015, in my next post.
Thanks for your continued support! -S