New 10 Year Report from PDE and Miller Samuel Shows Manhattan Real Estate Market Improving
Thursday, February 3rd, 2011
A new report just released by Prudential Douglas Elliman Real Estate and prepared by Miller Samuel shows an improved Manhattan real estate picture. In 2010, median prices for coops and condos were up almost 4%, while the average sale increased almost 5% from 2009.
Sales activity for coops and condos also increased in 2010 compared with the year prior, increasing 35%. Compared to 2001, condo and coop median prices increased nearly 105%, while the average price was up 87% in 2010.
Things are much better than last year
‘Things are much better than last year’, said appraiser Jonathan Miller, president and CEO of Miller Samuel, who prepared the reports for Elliman. ‘We gained some ground over what happened in 2009′, as quoted in The Real Deal. While he went on to caution that we are not necessarily out of the woods, he did say prices are ‘generally stable’ compared to last year.
You can download the full report from Prudential Douglass Elliman by clicking on the cover.
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