Give me an ETA for $800/sqft average

1995

Not sure what ps meant but the surprising thing is that $800/sq ft only rolls you back to about Q2 2004 per Miller Samuel data.
The more interesting question is when do we get back to Q1 2003 prices ($600/sq foot)? Credit bubble is generally recognized as beginning right about then.....

interest rate driven bubble starts right around 1998. the possibilities are fascinating. 2000, $600 psf condo, quite a bit less coop. slightly less than Q1 2003.

You can find $800/sf now in many parts of Manhattan, depending on the type of building and apartment. We should be down to $600/sf in the next year or so.

nice

I'm more of an UWS RE hound, but it looks to me that prices have definitely broken the 800/ft barrier so. of 96th esp. on bigger non-luxe apts.

Are all of the people who are solely fixated on price per square foot the type of person who buys low floor, low ceiling, far from subway, estate condition apartments?

no, some of us are real estate historians.

?

I am eliminating new construction, and basing this information on what I have sold and purchased over the last decade or so:

1992-1999: Condos trended slightly higher during this time frame, drom about $250 psf aqverage to $400 psf average.

2000 - 2002: There were fits and starts in this market with Sept 11 taking out a lot of momentum. Condos could be had for $400-650 psf.

2003 - early 2008: Up, up and only up. Low interest rates, citywide improvements creating more and more demand, land values exponentially increasing, and speculative buying and investing drove prices from $650 to over $1000 psf. In 2005 alone prices increased about 20% to $1000 psf. Some periods in 2007 and early 2008, outliers reached $1,100 psf.

March 2008 to current: Prices trend down to 2005 levels. Support has already broken in many cases, bringing us to 2004 levels (around $850 psf). We could see prices trend down to 2003 ($650 psf).

oh, and the above is just for condos. I don't care much for co-ops as they can't be rented out.

infogrames: how do YOU price real estate, price per doorknob?

In a couple of years, I think we'll see continue pressure on the medians (even if the market is flattening) because the ratio of co-op to condo sales will return to "normal".

We still have 1-2 years of more inventory hitting the city, but when that is eaten up, and there hasn't been much new development for a while, we'll shift back to co-ops, and the medians will go down some more.