Average Manhattan condo sells for nearly $2 million

Two reports show that while condo closing volume declined in Manhattan by 10 to 20 percent during the second quarter, median and average sales prices rose by 6 percent to more than 11 percent spanning the past 12 months. The average Manhattan apartment sold for more than $1.8 million during the second quarter, which represents an 8 percent rise when compared to a year ago, according to a report released by Brown Harris Stevens, a New York-focused residential services provider.