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.
