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Manhattan Apartment Prices Dip-- Again Average Price Slides As Median Price In May Gains
The average sales price for a Manhattan apartment continued to slide in May, according to new numbers out Wednesday from brokerage Halstead Property. The average price of a Manhattan apartment slipped from $1,236,287 in April to $1,149,211 in May -- a 7 percent decline month over month, and a 10 percent drop from May 2005.
The average sales price had already slid 6.8 percent from March to April. It had stood at $1,326,879 in March, Halstead reported.
The median Manhattan apartment sales price for May, however, was up over April, and it was the same as in May 2005. The median price increased 3.8 percent month over month to $750,000.
By Tom Acitelli
Wednesday, June 14, 2006