Friday, April 1, 2016

Thank You, Janet Yellen: Manhattan Home Prices Break $2 Million Barrier for the First Time

The average cost of a home sold in Manhattan in the first three months of 2016 soared above $2 million.

Prices jumped 18.5% compared with same period a year earlier to $2.05 million, according to new research by appraisal firm Miller Samuel on behalf of Douglas Elliman Real Estate.

The research also found that the average number of days a property spent on the market fell 7% to 93 days compared with a year ago, while the average listing discount was 2.1%, down from 4.7%.

Do I really have to repeat, this is not what a recession looks like?


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