Prices up 20% throughout Manhattan, with the East Side showing some of the biggest increases. "At Halstead Properties, the biggest surprises were on the Upper East Side, where the average sales price for a three-bedroom or larger soared 51 percent, from $3.79 million during the second quarter of 2013 to $5.71 million during the second quarter of 2014 — thanks in large part to a record $70 million... [more]
Prices up 20% throughout Manhattan, with the East Side showing some of the biggest increases.
"At Halstead Properties, the biggest surprises were on the Upper East Side, where the average sales price for a three-bedroom or larger soared 51 percent, from $3.79 million during the second quarter of 2013 to $5.71 million during the second quarter of 2014 — thanks in large part to a record $70 million co-op sale.
The sale price for Manhattan apartments has skyrocketed 20 percent this year, a market report has found.
Manhattan home buyers paid an average $1.69 million in the second quarter of 2014, compared with $1.41 million for the second quarter of 2013, says the report from realty giant Corcoran.
But at the same time, there were 3,781 closed sales for the second quarter of 2014 — 10 percent fewer than the second quarter of last year.
The number of signed contracts was down 22 percent, to 3,593, during the same period.
“The lack of inventory drove prices up steadily, but buyers are balking at paying high prices that are not necessarily for their dream apartments,” said Pamela Liebman, Corcoran’s CEO.
The trend is likely to continue."
http://nypost.com/2014/06/30/apartment-prices-in-manhattan-are-astronomical-and-still-surging/[less]
