They should dedicate this article to BUBBLE ben bernanke, the reason why manhattan real estate prices are breaking records is because stocks have continued to rally to record highs, and the reason we have record highs on wall street is because of BUBBLE ben bernanke and his QE printing and ZERO interest rates, BUBBLE ben bernanke has created these Manhattan record real estate prices, if the markets were still near 2009 lows that average sales price of a manhattan apartment at $1,872,000 would probably be around $750,000, yes about 50% lower, so keep in mind the ONLY ONLY ONLY ONLY reason manhattan real estate prices are at record highs is because of BUBBLE ben bernanke, not anywhere in this entire article do I see any mention of BUBBLE ben bernanke getting any kind thank you....he is the reason for this headline today...remember that.....
Manhattan real estate prices hit record
Robert Frank |
@robtfrank
2 Hours Ago
The average sales price for a Manhattan apartment hit $1,872,000 in the second quarter—an all-time high, according to data from Douglas Elliman.
The
median sales price was the second highest of all time, at $980,000.
The
average co-op price hit a record $1.5 million and so did resales. That's significant since the plethora of high-priced, new condo towers have been the main drivers of prices in recent years. Now co-ops, which make up the bulk of the Manhattan market and are sold mainly to U.S. buyers, are gaining ground.
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Still, they have a long way to go—the
average sale price for new developments topped $4.1 million, or $2,011 per square foot in the quarter.
But those skyrocketing prices may be getting too rich—even for the rich. Total sales volume fell by 20 percent year over year. That marked the fourth straight quarter of declines.
Inventory is not budging, with about a six-month supply.
So what do you get for $1.87 million? A Douglas Elliman listing for that figure on Broad Street, in the Financial District, has one bedroom, two baths, around 1,400 square feet, hardwood floors and high ceilings.