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>> REAL ESTATE Latest News

JAN 31, 2013 - Gothamist

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Manhattan Real Estate Is More Expensive Than Ever... Or Is It?

Manhattan, still super expensive? While that reality is pretty much the first thing to stand out in the latest quarterly report out of real estate company Douglas Elliman [PDF] it isn't the whole story. According to Elliman, the average sale price of apartments of all types has gone up 66 percent in the past decade, from $850,340 in 2003 to $1,417,080 last year ($1,084 per average square foot!). But the median sales price, however, was just $837,500—and if you factor in inflation, that is actually the lowest it has been since 2004. [ more › ]

Tags: Manhattan Real Estate Is More Expensive Than Ever... Or Is It?,  Real Estate Latest News