Manhattan home prices near million-dollar mark
The median sales price for an apartment is setting a record high, according to several market reports by major property brokerage firms
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A MILLION dollars doesn't buy what it used to in Manhattan. A combination of high demand and too few listings pushed the median sales price for a Manhattan apartment to just shy of a million dollars in the third quarter of the year, setting a record high according to several market reports by major real estate brokerage firms.
The median sales price, which reflects the middle of the market and is less affected by high-end sales, was US$999,000, according to a report by the Corcoran Group. Reports from other brokerage firms, using different figures and methodologies, put the median price at or just below the million-dollar mark, with most calling it a record.
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