Homes below $1M ‘a dying breed’ in NYC

The median sale price for an apartment in the Manhattan borough of New York City reached $972,428 in the first quarter of 2013, up 18.5 percent from the same period a year ago and close to an all-time high reached in the second quarter of 2008, according to a report from New York City-based brokerage Douglas Elliman.

“Below a million is like a dying breed,” Jonathan J. Miller, the author of Elliman’s report and the president of the appraisal firm Miller Samuel, told the New York Times.

Source: New York Times

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