Monday, January 31, 2011
New York Property Report 4Q 2010
* Median property prices up 3% to 11% depending on which report you read. Median price $845,000.
* Average price up as much as 14% driven by properties $3 million and above.
* Still lower than peak of 2008 but higher than bottom of 2009.
* Returning to normal (not crazy) growth rate. Expect slow and steady appreciation.
Below is summary data from Miller Samuel's
4Q'10 Manhattan Market Report
New York (Manhattan) 4Q 2010:
Median price $845,000 (+4.3% YOY)
Avg price per SF $1,058 (+0.7%)
Transactions 2,295 (-7.2%)
Days on market 125 (-39%)
The luxury property market, defined by Miller Samuel as the top 10 percent of sales, outperformed the overall New York property market in 4Q 2010.
Median price $4.35 million (+15% YOY)
Avg price per SF $2,101 (+13%)
Transactions 230 (-6.9%)
Days on market 142 (-40.8%)
New York Property Price Trend
New York property steady growth - New York Times
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