Rise in sales signals market strength

The high sales volume in Manhattan’s spring season is a sure sign that New York City’s residential market continues to post strong results. There were 3,939 sales in the second quarter, up 13.4 percent from 3,474 sales in the first quarter, according to a report released this morning by appraisal firm Miller Samuel. More significantly, there was a 103.7 percent increase in the number of sales from the second quarter in 2006, when there were 1,934 transactions. There have also been significant price gains in the past three months. The median sales price was $895,000 in the second quarter, up 7.2 percent from the first quarter, and the average sales price was $1,333,316, up 3.3 percent from the prior quarter. more By Vanessa Londono
Other articles about the second-quarter sales market:
Fewer buyers interested in co-ops more [NYT]
Wall St. bonuses boost sales more [Post]
Weak dollar feeds buying more [Sun]