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New York Is A Seller's Market, Says Residential Pro

NEW YORK CITY-With apartment prices climbing 42% and former records being broken, now's the time to sell, says Douglas Elliman.

By John Salustri | Updated on August 04, 2000

If you own a co-op or condo in the Apple, maybe now’s the time to make it work for you. According to statistics newly released by Douglas Elliman, it’s a seller’s market, with average prices of a Manhattan apartment leaping by 42% in the second quarter over the same period last year.

The price tags are a new record, the report says, with average sales prices now hovering at $668,105 for a co-op and $1.04 million for a condo Overall, cooperative and condo going rates are rising by 31% and 53% respectively.

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