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Residential sales, median price show improvement in 2010
The Manhattan residential market still hasn’t rebounded to pre-recession sales prices and activity, but data released in The Real Deal’s 2011 Data Book shows it’s moving toward stability.The number of apartments sold in 2010 reached 10,060, a steep climb from 2009, which saw just 7,430 residential sales. The median sales price, meanwhile, climbed to $845,000 last year, up from $810,000 in 2009. These numbers, however, are still off from peak-level activity: 13,434 residential sales closed in 2007, while the median price hit a high point of $900,000 in 2008. To purchase the 2011 Data Book, click here or see the link at the top of the website. TRD