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Elliman Report: Manhattan Sales 4Q 2015

Manhattan housing price indicators set records as overall sales levels remained high. After hovering just below the million-dollar threshold for the past year, median sales price broke through, surging 17.3% from the year ago quarter to a record $1,150,000. Manhattan joined Brooklyn as the only boroughs to break the “pre-Lehman” high before the financial crisis began. The previous Manhattan median sales price record of $1,025,000 was set in the second quarter of 2008. Average sales price followed the same pattern rising 12% to a record $1,948,221. Both records are reflective of a 27-year data series and were set by both higher re-sale and new development prices…

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