The average sales price for a Manhattan apartment hit $1,872,000 in the second quarter—an all-time high, according to data from Douglas Elliman.
The median sales price was the second highest of all time, at $980,000.
The average co-op price hit a record $1.5 million and so did resales. That's significant since the plethora of high-priced, new condo towers have been the main drivers of prices in recent years. Now co-ops, which make up the bulk of the Manhattan market and are sold mainly to U.S. buyers, are gaining ground.
Still, they have a long way to go—the average sale price for new developments topped $4.1 million, or $2,011 per square foot in the quarter.