New York City Real Estate

Record high prices in New York City

Prices of apartments in Manhattan have reached new highs in 2015, with the typical price of a co-op apartment or condo apartment exceeding $1 million for the first time, based onThe Wall Street Journal.

The median price of a Manhattan apartment rose to almost $1.1 million, an increase of 13.5% from $965,000 from both the previous quarter and the fourth quarter of 2014, according to an analysis of Department of Finance in New York City.

The median price also set a record: it increased 6.5% and is now $980,000 (compared to $920,000 in 2014).

Sales are also still going strong. There were a total of 12,872 sales in NYC in 2015, compared with 12,608 in 2014, based on sales filed with the local government in New York City through Dec. 21 of each year.

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Source: Economic Policy Journal, December 29 2015.

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