For Manhattanites, the grass is greener on the Jersey side.
A recent survey by Miller Samuel shows it’s become more difficult to buy a nonluxury home – less than $3 million, and about 90 percent of the inventory in Manhattan – in the past few years. The study found the number of units available dropped by more than 36 percent year-over-year.
The median price of a two-bedroom Manhattan apartment is $1.35 million, according the survey, and a three-bedroom is $2.63 million. By comparison, the median price of a single-family home in New Jersey in less than $360,000.
At the same time, the average price of a Manhattan one-bedroom home rose 7.8 percent year-over-year, while a two-or-more bedroom unit jumped 10 percent.
That’s why places like Hudson and Essex counties, which have easy access to Manhattan, have seen steady growth…