New price highs seen for Manhattan luxury and resale properties

  • Median sales price scaled 13.1 percent year-over-year to reach a new record of over $1.1 million, according to the report.
  • Days on the market fell to 89 days.
  • Sales picked up in the second quarter by 2.3 percent year-over-year, with 2,736 closings.
  • Sales of new development condos more than doubled year-over-year.

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The real estate market in Manhattan makes shifts in a New York minute. In just one year, median sales price across the borough scaled 13.1 percent to reach a new record of over $1.1 million, according to Douglas Elliman’s Q2 report.