According to the latest quarterly report from Halstead Property, the first quarter of 2008 saw property values continue their outlandish surge on the isle of Manhattan. The report touts "new records" in median sale prices and average apartment sale prices.
Yes, $1.69 million is the new average sale price of an apartment, but remember, that's "average" and that number was pushed up artificially by two high-end properties: 15 Central Park West and the Plaza.
Without those two, the average sale price would be a mere $1.4 million. Ah well. What this says, though, is that there is far more activity on the high end of the market, because the median sale price is $855,000 (which is still up 13 percent from last year).
New York City 2010
