Median sales prices for condominiums and co-operative apartments in Manhattan were up 9% in the second quarter over the first quarter, but down 6% when compared with the second quarter 2010, a report from the Prudential Douglas Elliman real estate company said.
The median sales price was $850,000, compared with $782,071 for the first quarter and $899,000 last year.
The average sales price was $1.46 million for the most recent period, up 2% over the first quarter's $1.43 million and 9% from the second quarter 2010's $1.3 million.
Price per square foot increased by nearly 2% over the first quarter ($1,068 vs. $1,051) and was up by 4% ($1,025) over the second quarter 2010.
Dottie Herman, president and chief executive of Prudential Douglas Elliman, said, "Relative to other housing markets across the country, Manhattan continues to be one of the best performing markets to date. While our regional economy is showing a slow pace of improvement, we anticipate the Manhattan housing market to follow the same trend for the remainder of 2011."
There were 2,650 sales of condo and co-op properties in the borough, up from 2,394 in the first quarter, but down from 2,756 sales in the second quarter 2010.
