US property price to income ratio

 

Are we in a bubble?

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Manhattan Property Price Decline During Recession of 2009

One common questions asked by our investor clients about Manhattan property is the price decline during the past recession. 

Average property price by neighborhood in New York

Based on popular demand from clients, here is an updated list of the average property price by neighborhood in Manhattan, New York.  The numbers are based on a snapshot of the average asking price of a 2-bedroom condominium.

There are many ways to slice and dice these types of data.  Being a former finance guy, I understand well how numbers can be cut differently to present a story.  For example, we could look at average price per square foot and the order would change.  Or the average price of a coop, average price of a 1 bedroom (vs 2 bedroom) condo etc.

Property price in New York after financial crisis

Property price in Manhattan, New York is currently higher than the peak of 2008 and perhaps about 20 percent higher than during the financial crisis of 2009.

Specifically, I am referring to Manhattan luxury condominiums and generally, I am using numbers I have observed over the years.  Reason is that the "official" numbers published by the data houses tend to be average of condos and coops.  Depending on what metric is used, the numbers tend to be skewed.  For example, by very high end apartments, large weighting of coops etc.