Manhattan Market Overview Graph for 2nd Quarter 2010 from Miller Samuel
The 2nd Quarter of 2010 proved to be a solid one for Manhattan Real Estate. During the Q2 2010 the average price of property increased in the overall market with a huge 80% jump in sales volume over the same period in 2009. As a result, inventory numbers declined. While financing was still challenging to obtain, more options exist today than in 2009, providing impetus to sales above the $2 Million threshhold. Read more…
Upper East Side 1Br Market – At the end of June I analyzed the 1Br Market for properties on the Upper East Side between 65th to 83rd and York Ave to 3rd Avenue priced between $400,000 to $650,000. The average price for these units was about $490,000. Median around $485K. The majority were straight 1Brs without an alcoves but respectably sized. Many were in full-service doorman coops. The best prices were East of 2nd Avenue.
Since the end of June buyer activity seems to have slowed a tad overall and in this area too. Read more…
