Leave it to New York to be Different

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While most of the real estate markets around the country are below average, New York markets are seeing an impressive rise in housing sales and prices. The average price for a condo or co-op apartment in Manhattan over the past three months, ending June 30, was $1.3 million, and it continues to rise with four-bedroom apartments selling for an average of $10 million. The luxury market in New York is stronger than any other in the country, and as a plethora of new buildings continue to hit the market, buyers are eagerly snapping up condos all over Manhattan – so much so that inventory has dropped and developers are not meeting the strong market demand. Additionally, with the once deemed “less-desirable” neighborhoods like Harlem and the East Village reinventing themselves with the development of housing for the middle and high-income buyers, demand for housing in Manhattan has not ceased and will not anytime soon. via CNN Money

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