A house in Manhattan costs $ 6.6 million on average

30 March 2018

With less than 300 sales a year, the supply of townhouses in the heart of New York is a micro-market. According to the latest study devoted to the subject, the average price has still risen slightly driven by the most luxurious sales.

Really, the New York real estate market knows no lull. While ultrafine towers are proliferating around Central Park to meet the demand of millionaires eager for breathtaking views, the few homes that sell every year in the Big Apple are also seeing their prices rise. In this micro-market that never exceeds 300 sales per year, the New York real estate network Corcoran has accounted for 198 in 2017, according to its latest study. A very limited volume but that still marks a good 10% of the number of sales after 6 years of continuous decline.

On the price side, the average transaction now stands at $ 6.61 million (€ 5.33 million), a slight increase of 1% compared to $ 6.53 million ($ 5.27 million). 'euros) from the previous year. The median price (the one that accounts for half of the transactions) has meanwhile melted by 12% to 4.64 million dollars (3.74 million euros) pulled down by more sales in neighborhoods the cheapest in the city. On average, in this market, the square meter is trading at 13282 euros, or 44% above the Paris average prices, which nevertheless reached their record at 9200 euros per square meter.


Proof of the vitality of luxury in New York, sales between 10 and 20 million dollars have increased the most in 2017, increasing in one year from 13 to 18% of transactions. As for true luxury sales, those which represent the 10% most expensive of the market, they are made very precisely to 20 million dollars on average (or 19,97 according to the Corcoran study). Unlike 2016, 2017 has even had two transactions worth more than $ 30 million. If this market tempts you and your wallet allows you, here is a small selection of goods currently available for sale.

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