Manhattan sales prices still lower than pre crash levels: Report

advertisement | advertise on newsday

The cost to own Manhattan real estate surged over the last nine years as new homes popped up, a real estate report found.

The average sales price for a Manhattan home was $1,417,080 in 2012, a 66% increase from 2003, when it was about $850,000, according to a Douglas Elliman report.

advertisement | advertise on newsday

The prices hit their peak at $1.6 million in 2008, before the economy fell.

Although Manhattan experienced a 12-year low in home listings in 2012 with 4,749, lower-priced homes seemed popular with a record 2,598 sales, according to the report.

Comments

Newsday.com now uses Facebook for our comment boards. Please read our guidelines and connect your Facebook account to comment.

You also may be interested in: