The median resale price for Manhattan apartments hit $999,000 in the second quarter — the highest on record, according to a report from Douglas Elliman and Miller Samuel.
Manhattan real estate prices reached an all-time high in the second quarter, as buyers returned to the city and boosted demand for the largest, most expensive apartments, according to new reports.
The median resale price for Manhattan apartments hit $999,000 in the second quarter — the highest on record, according to Douglas Elliman and Miller Samuel. Average sale prices grew 12% in the quarter, topping $1.9 million.
The price increases and shrinking inventory indicate the Manhattan real estate rebound is continuing to gain momentum, as more families look to move to larger apartments and buyers seek to take advantage of lower prices and low mortgage rates.
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