Manhattan sales prices still lower than pre crash levels: Report
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.
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.
Out East Show: Visit The Shamrock evergreen maze, Sannino Vineyard, Seven Ponds Orchard and the Warrior Ranch Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
Out East Show: Visit The Shamrock evergreen maze, Sannino Vineyard, Seven Ponds Orchard and the Warrior Ranch Foundation NewsdayTV's Doug Geed is heading 'Out East' to showcase the ultimate local spots you need to explore.
