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Elliman Report: Manhattan Sales 1Q 2016

The Manhattan sales market continued to see record prices, elevated sales and modest resale inventory growth. The average sales price of a Manhattan apartment exceeded the $2 million threshold for the first time, up 18.4% to $2,051,321 from the year ago quarter. Average price per square foot jumped 35.6% to $1,713, also reaching a 27 year record. Median sales price increased 17.3% to $1,137,500 over the same period, but fell 1.1% from the record set in the prior quarter…

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