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Manhattan Median Home Prices Soar To $972,000

Story By: Larry Stine

 

 

 
 
 
   
   
  Originally Published on: 4/4/2014

Home prices in other parts of the country are still 20 percent below their housing boom peak. But demand for large, luxury apartments has helped home prices in Manhattan almost fully recover from the housing bust. During the first quarter, the median sales price for a condo or co-op in Manhattan rose more than 18 percent year-over-year, to $972,000. That's according to real estate company Douglas Elliman. Elliman, along with brokers Halstead Property and Corcoran Group, have reported sales volumes in Manhattan was up 25 percent or more in the first quarter. And inventory still remains very tight, with homes often being snapped up in bidding wars.

   
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