Now selling for an average of $2.19 million, Manhattan apartment prices are at an all-time high. How high will they go? Only time will tell.
Manhattan Real Estate Rising
The average sales price of a Manhattan apartment rose 8 percent over the same period last year, hitting $2.19 million. The median sales price also hit a record, up 7 percent to $1.19 million. While homes were sitting on the market slightly longer, inventory fell modestly.
Jonathan Miller, president of Miller Samuel, said the strong sales and prices were driven by two factors. More realistic sellers and continued pent-up demand from buyers who held off purchases in 2016.
See how these prices stack up to your current city by downloading City Vs City today!
Continue reading here.