New York (Manhattan) property price appreciation history from 1997 to 2009. Average price per square foot of condo and coop apartments. Price peak reached in Q1'2008. Back in 1997, it was only $328 per square foot, increasing to peak of $1289 per square foot in Q1 2008.
New York price appreciation rate of about 10 percent per year.
My opinion is that the real price bottom reached in Q4'09. This will be reflected in Q1 2010 market report because these price reports lag 3 months because of the time it takes to close. The Q4'2009 price data of $1051 reflects transactions agreed upon 3 months prior, ie around Aug / Sept 2009.
Graph data from miller samuel
New York Property price appreciation