| 8 vacation homes to buy now and Manhattan real estate prices up 14% |
|
|
|
|
Home prices in Manhattan, the most expensive large housing market in the nation, appear to be stabalizing -- and maybe even growing.Condo and coop prices rose between 7.5% and 14% in the last quarter, compared to the same period a year ago, according to a host of markets reports released Friday by big New York brokerage firms. The median price for an apartment sold hit a whopping $890,000, according to broker Brown Harris Stevens and the Halstead Group. For The Corcoran Group, the price was $900,000; Prudential Douglas Elliman came in at $914,000.This is the third consecutive quarter of price gains, a signal that Manhattan real estate is stabalizing. Plus, the supply of homes for sale has grown much tighter, down about 25% since inventory hit a peak in March 2009."It's now a very normal, back-to-basics market in New York," said Pam Liebman, Corcoran's CEO. [Read the full article] 
|