The records keep piling up for Manhattan real estate.
The fourth quarter saw a string of records broken—from number of deals and average sale prices to dwindling inventory—as the rich from around the world scoop up luxury apartments as a store of wealth.
The average sales price in Manhattan rose 5.3 percent to $1,538,203 in the fourth quarter compared to a year ago. That marked the highest-ever price for a fourth quarter. The median sales price for condos is the highest-ever tracked, hitting $1.3 million.
And the inventory of apartments for sale has shrunk to its lowest level in recent memory, with a little over 4,000 apartments for sale.