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January 03, 2007

Average Price of a Manhattan Apartment Condo $1.1 Million

posted by MR WAVETHEORY at 1/03/2007 03:55:00 AM
Ask the average Manhattanite: "Is there a housing bubble?" and the answer is going to be a resounding "no." The average price of a Manhattan apartment rose to more than $1.14 million in the fourth quarter of 2006, up 5 percent compared with the same period a year earlier, according to Halstead and Brown Harris Stevens. The median price for the apartments was $760,000, a new record, beating the figure from 2005 by 9 percent (via).

Average Condo Prices in Manhattan

New condominiums = $1.3 million (unchanged)
Cooperative apartments = $953,120 (+3)
Four-bedroom and up (Upper West Side) = $5.7 million (+48%)
Three-bedroom and up (Upper East Side) = $3.8 million (+22%)
Average price per square foot = $1,050 (+7%)
Sample Size = 2,364 reported sales

What housing bubble?

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8:15 AM  
Blogger Stivel Velasquez said...

If you have been waiting to buy a Manhattan apartment until after prices come tumbling down, you may have to wait a march madness little longer. Manhattan co-op and condominium prices sagged a bit last quarter, in the usually slow summer selling season, but by most measures they remained healthily above prices reported a year ago, according to a number of competing market reports released yesterday.

9:33 AM  

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