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| Hall F. Wilkie |
New York, NY -- According to the fourth quarter Manhattan
residential market report released by Brown Harris Stevens, the average
Manhattan apartment sale price of $1,486,692 was up 7% from the fourth quarter
of 2011 and the median price $836,000 was up 6% over that same period.
At 2,297, the number of closings was up 40% when compared to
the fourth quarter of last year.
Cooperative
apartments of all sizes saw increased sales prices over the fourth quarter of
2011. The average price of $1,285,426
was 12% higher than during the fourth quarter last year with three-bedroom and
larger co-ops posting the biggest increase in average price, 34% from a year
ago.
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| Manhattan Skyline |
“With the upcoming
changes in tax laws, record low interest rates and the inventory of available
apartments at 30% below where it was a year ago, the incredible activity in the
fourth quarter was not surprising” said Hall. F. Willkie, president of
Brown Harris Stevens Residential Sales.
“Our report shows that there was a 44% increase in sales
over $10 million when compared to the same period in 2011. This does not
include several substantial transactions in the last days of 2012 that closed
after the report was produced. This strong demand from both local and
international buyers combined with a strong local economy is a hopeful sign for
2013.”
For a complete copy of the company’s news release, please
contact:
Alicia Haynes
Rubenstein PR
212.843.9240
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