NYC Home Prices Continue to Rise
Somebody forgot to tell NYC that there’s a housing slump going on. According to several NYC real estate brokers, prices, particularly in Manhattan have been doing nothing but going up.
The median Manhattan condo or co-op apartment sold for between $840,000 and $895,000 during the three months ended June 30. According to Prudential Douglas Elliman, a four-bedroom apartment averaged approximately $10M.
What’s pushing the luxury market in NYC? According to the realtors, its three groups: Wall Street managers and bankers, overseas buyers and parents of college students.