RISMEDIA, April 3, 2009-Halstead Property released its First Quarter 2009 Market Report which shows that the average sales price of a Manhattan apartment fell 11% a year ago to $1,502,339, while the median price rose 6% over the past year to $907,500.
“In light of the economy and what has happened with Lehman Brothers and other financial institutions, this data is not hugely surprising. We definitely face challenges in this market but it’s important to rely on experience and on the historical strength of the New York market compared to the rest of the nation,” said Diane M. Ramirez, president of Halstead Property. “In the last few weeks, we have seen a renewed optimism in the market. Buyers are looking for great values, and combined with additional government incentives and low interest rates, it is a great time to buy.”
For more information, visit www.halstead.com.
Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com