Manhattan Median Home Price Crosses $1M Mark for First Time, Report Says
(DNAINFO) Amy Zimmer | December 16, 2015 — For the first time ever, the median price for Manhattan apartments surpassed the $1 million mark, according to a year-end report released Wednesday from CityRealty.
That means more than half of all condos or co-ops sold in Manhattan in 2015 through Nov. 30, located below East 96th Street or West 110th Street (which was the span the report covered), cost more than $1 million.
And the record $1.1 million median sales price for the first 11 months of 2015 was more than 13 percent higher than last year’s median record of $970,000.
“It’s a benchmark. It feels like a point of no return,” Gabby Warshawer, director of research for CityRealty. “It seems like this is the new normal for Manhattan.”