Apartment prices reached new highs in May

Rising like Russell Crowe’s temper, the median price for all sales in Manhattan in May increased 23 percent over the same month last year. The median price for a condo or co-op in the most expensive borough was $750,000, according to a report by Halstead Property. The average price also hit a new high of $1,276,202 34 percent higher than the average price in May 2004. more [NYT]