According to the report, the average sales price overall forcooperatives and condominiums in New York City was $831,000,compared to $769,000 during the second quarter of 2006. Forone-to-three-family residences, the average sales price was$622,000 compared to last year's average of $592,000.
The report notes that Manhattan had the highest average salesprice for an apartment at $1.2 million, with Brooklyn second at$484,000. For one-to-three-family dwellings, Manhattan recorded thehighest average price at $5.2 million, while Brooklyn registeredthe next highest average sales price at $671,000. Queensone-to-three-family dwellings followed with an average sales priceof $588,000.
"The New York City real estate market steadily increased in thesecond quarter of this year as both average and median prices forapartments and one-to-three family homes were on the risecitywide," says REBNY president Steven Spinola. "Our citywidereport was created to provide market indicators for all fiveboroughs and hence a complete picture of the overall market in thecity. The report clearly demonstrates that, while everyone knowsthe Manhattan market continues to be strong, the boroughs outsideManhattan are bucking the trend in the rest of the country andseeing solid increases in home prices."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
