Big Apple buyers return to snatch up prime Manhattan real estate

By
Real Estate Agent with Halstead Property, LLC

The Big Apple's perennial home-buying season kicked into high gear this spring and residential firms are reporting that buyers have come back to Manhattan in droves to snatch up apartments - especially with the rock-bottom mortgage rates and tax incentives.

According to the Real Deal, although the reports showed housing prices were either flat or up modestly compared with last year, sales of co-ops and condos reached pre-recession heights.

According to Halstead Property's 2nd Quarter 2010 Market Report Manhattan apartment closings rose 81% compared to a year ago, reaching their highest level since the third quarter of 2008. The average sale price also continued to improve, climbing 9% from 2009's second quarter to $1,377,135. The median price, which measures the middle of the market, rose 6% over the past year to $842,779.

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Rainer
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Scott Hayes
(512) 786-8300 - Austin, TX
Realty Austin, Broker Associate

Whenever we have a recession, I always think its a good time for investors or residents, like Manhattan or Los Angelese. Probably some nice values now.

Jul 17, 2010 11:32 AM #1
Rainmaker
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William True
True Sarasota Real Estate - Sarasota, FL
Sarasota Real Estate

I am a graduate of NYU and always enjoy hearing about New York City - especially when its doing well!

Jul 17, 2010 11:41 AM #2
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Rainmaker
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Ross Ellis

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