Chart below summarizes the historical performance of Manhattan, New York property. From 1997 through 3Q'10, Manhattan residential housing prices increased from $328 per square foot to $1095psf. This is an average of about 10 percent per year. Compared to the Dow Jones which appreciated an average 2% per year during the same period.
Third quarter 2010 housing statistics for Manhattan condos below. By all metrics, the market has improved since the bottom of 2009. Average price, price per square foot and sales transactions all increased about 9 percent compared to the same period last year. 2BR condos continue to have the largest market share.
Castle Avenue Partners - Manhattan investment properties
Data: Miller Samuel
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