Leave it to New York to be Different
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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