Median Apartment Price in Manhattan Climbs Above $1 Million for First Time

Manhattan Real Estate Records of 2015
Manhattan Real Estate Records of 2015
Photo: CityRealty
Average and Median Sales Prices Since 2005 for Co-ops and Condos
Average and Median Sales Prices Since 2005 for Co-ops and Condos
Photo: CityRealty

The median apartment sales price in Manhattan has surpassed $1 million for the first time ever in 2015.

“For the second year in a row, Manhattan real estate prices soared, setting new records. For the first time, the median price for an apartment—including both co-ops and condos—was above $1 million.” This is according to CityRealty‘s newly released Year-End Manhattan Market Report, which puts the median price at $1.1 million, 13% higher than last year and 60% higher than 2005. Additionally, the average apartment sales price ($1.9 million), the average condo price ($2.6 million), and the average co-op price ($1.4 million) all broke 2014′s records by $100,000.

Read the full report on City Realty for more insights.

via 6sqft

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