Mortgage crisis? Barely a blip for Manhattan real estate, according to reports released today.
The median closing price grew 10 percent in the past year, from $798,000 in 2006 to $880,000 in 2007, according to a report from The Corcoran Group real estate agency. Price per square foot went from $1,025 to $1,105 in the same period, the report said.
Brown Harris Stevens , which released similar figures, showed that the past year’s average prices rose quicker than median, reflecting more activity in the higher-end market. The sales of apartments in the $10 million-plus range tripled in the past year, the company said.
But there were some dips in the market.
Median sales prices dropped 2 percent over the past year for East Side and Downtown neighborhoods, Corcoran figures showed, but went up 19 percent in Midtown West and 8 percent on the West Side.
Plus Brown Harris Stevens counted 2,531 closings in Manhattan for the fourth quarter of 2007, a snippet down from 2,557 a year ago.