Industry News

Condo, co-op prices still rising in Manhattan

Year-over-year median-price gains of 6% to 15% seen in Q4
Published on Jan 3, 2008

Condo and co-op prices and sales rose in Manhattan during the fourth quarter compared to the same quarter last year, according to a series of real estate market reports released today. A report by Prudential Douglas Elliman and research firm Radar Logic Inc. found that the median sales price of Manhattan co-ops and condos rose from $799,000 in fourth-quarter 2006 to $850,000 in fourth-quarter 2007 -- a gain of 6.4 percent. But the median price fell 1.7 percent in the fourth quarter compared to the prior quarter's median price of $864,397, according to the report. A separate report, prepared by Halstead Property and data company ValuExchange, found that the median price of Manhattan co-ops and condos rose 14 percent in the past year, from $725,000 in fourth-quarter 2006 to $828,000 in fourth-quarter 2007. And still another report, prepared by The Corcoran Group and Mitchell, Maxwell & Jackson, found that the median price jumped 15 percent, from $799,000 in fourth-quarter 2006 to $91...

Comments