Feb 3, 2014

Manhattan Neighborhood Ten Year Report


In a recent released Manhattan real estate decade report by New York appraisal firm Miller Samuel for brokerage Elliman the data shows which Manhattan neighborhoods have gone up the most during the past ten years.

Some highlights of the report:

Today, average sales prices in Uptown Manhattan–north of West 116th Street and East 96th Street, from river to river and all the way to the tip of the island–are still less than what downtown buyers paid ten years ago. The average sales price this year is $505,435. That’s 40.9% higher than in 2004, when the average price for condos and co-ops was $358,657.

Last year Morningside Heights prices skyrocketed as prices for co-ops along the Fifth Avenue/Park Avenue corridor actually dropped.

Hamilton Heights and Morningside Heights up 30.6% but still less than what downtown buyers paid ten years ago.

Last year apartments in Manhattan saw a modest price gain of 2.4% year-over-year to a median sales price of $855,000, last year had the second-highest number of sales in 25 years. Only 2007 had more sales. Inventory was at its lowest point in 2013 in 14 years.

download complete report

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