NEW YORK
A Manhattan real estate agency says the average sale price of a city apartment has dropped slightly since the last quarter, mostly due to a steep decline in condominium sales.
Brown Harris Stevens said Wednesday that the average sale price of about $1.4 million was down 3 percent from the same period in 2010. The agency says condominium sales accounted for 40 percent of all sales, compared with 46 percent in the fourth quarter of last year.
The agency says the average condo sale price was about $1.8 million, up 4 percent from 2010.
The agency says the relatively low rate of available apartments in Manhattan has led the city’s market to outperform the rest of the nation.
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