15 Broad St - Q1 2024 Market Overview
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<strong>15</strong> <strong>Broad</strong> <strong>St</strong>reet - Sales <strong>Market</strong> Analysis <br />
<strong>Q1</strong> <strong>2024</strong> Sales Activity:<br />
Size<br />
Average Sales <br />
Price<br />
Sold Units<br />
(<strong>Q1</strong> <strong>2024</strong>)<br />
Avg. $/PSF % Change<br />
(<strong>Q1</strong> <strong>2024</strong> vs <strong>Q1</strong> 2023)<br />
Average Days <br />
on <strong>Market</strong><br />
<strong>St</strong>udio $775,000 1 23.09% 39<br />
3 Bedroom $2,685,000 1 7.81% 187<br />
Total $1,730,000 2 2.05% 113<br />
<strong>Market</strong> <strong>Overview</strong>:<br />
The first quarter of <strong>2024</strong> at <strong>15</strong> <strong>Broad</strong> <strong>St</strong> marked a period of adjustment in a fluctuating<br />
market. Compared to the same period in the previous year, the market indicators<br />
reflected a repositioning in terms of pricing, sales volume, and market duration.<br />
Sales Price:<br />
There was a retraction in the average sales price for <strong>Q1</strong> <strong>2024</strong>, which settled at<br />
$1,730,000, indicating a market cooling from the higher averages previously<br />
experienced.<br />
Days on <strong>Market</strong>: <br />
The average number of days on the market saw an increase, rising to 113 days in <strong>Q1</strong><br />
<strong>2024</strong>.<br />
Units Sold: <br />
There was a decrease in the number of units sold in <strong>Q1</strong> <strong>2024</strong>, with only 2 units<br />
transacted, compared to 4 units during the same period in 2023, suggesting a potential<br />
dip in demand or a shift in buyer preferences.<br />
Sales Volume: <br />
The total sales volume for <strong>Q1</strong> 24 reached $3,460,000, compared to $5,665,000 in <strong>Q1</strong> 23.<br />
This decrease is in line with the reduction in units sold and the average sales price.
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