Copyright Castle Avenue Team at Rutenberg
127 E 56 ST, 4TH FL, NEW YORK, NY 10022 USA212.firstname.lastname@example.org
Manhattan, New York Property Historical Price Trends
- Condominiums and Cooperatives
By Wei Min Tan
Average price per square foot:
Graph shows the historical appreciation trend of Manhattan condominiums and cooperatives in terms of average price per square foot. In 1997, the average price per square foot was $328. 2016 set the new price record at $1,725 per sqft.
Note that the average price per square foot of a Manhattan condominium in Q4'2016 was $2,209, representing a significant premium over the condo/coop average shown in the graph.
Graph shows the historical median price of a Manhattan condo/coop increasing from $239,000 in 1997 to $1,100,000 in 2016.
While the graph shows the blended average of condo/coop, note that the median price of a Manhattan condo in Q4'2016 was $1.707 million.
New York Property historical price trends
Number of transactions:
Graph shows the trend for number of transactions per year, from 1997 to 2016. The peak was 13,430 transactions in 2007, the height of the market, while the valley was 7,430 transactions during the recession of 2009.
Data: Miller Samuel Appraisers
Wei Min Tan is a property broker focusing on Manhattan, New York luxury condominiums and foreign buyers. He is often interviewed by the media including CNN, The New York Times and The Wall Street Journal on the subject of foreign buyers of Manhattan property. View Wei Min's media appearances.
Wei Min can be reached at +1.212.380.6134, email@example.com.
Castle Avenue Team
127 East 56 St, 4th fl, New York, NY 10022 firstname.lastname@example.org +1.212.380.6134 Property Blog
Manhattan, New York residential condominium specialist focusing on investors and international buyers