Halstead Property released their fourth quarter market report earlier this week as apartment sale prices fell slightly from last year, basing their report off of 1,645 recorded Manhattan apartment sales, which had dropped 13 percent from the fourth quarter of 2010.
Average apartment prices suffered a three percent decline $1,391,745. The median price also fell to $785,000 after a seven percent decrease. Apartments also took ten more days to sell with the average sale taking 123 days. It wasn’t all bad news. Although the average price for cooperative apartments slipped to $1,149,203, apartments with three or more bedrooms had their average cooperative price rise 18 percent over the last year due to three closings for more than $20 million. In addition the average condo price rose four percent over the past year to $1,825,728. Overall Halstead reported increases in sales prices for most size categories with sellers getting 95.4 percent of their asking price.
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