2016-12-14 — usatoday.com
The New York City borough's exclusive real estate got a little bit more exclusive as the average price of unit dwellings -- defined as condos, apartments or co-ops -- rose from $1.9 million in 2015 to $2.2 million, according to real-estate information firm CityRealty... It was a second straight record for the ritzy real estate market. The median sale price -- which means half of transactions were lower, half were higher -- was $1.2 million in 2016, up from $1.1 million in 2015.
The rental market has pretty much already topped (for all segments), and the sales market is much weaker at the high end -- this is likely to trickle down, and the $2.2M number will likely be a high water market for some time to come (unless we get hyperinflation).
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