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The report further noted that New York’s West Side, as a result of having the lowest inventory levels in Manhattan, saw significant price increases in apartments of all sizes. On the East Side, meanwhile, apartments with at least three bedrooms had the largest price increase, at 23 percent year-over-year. In the downtown area, studios and apartments with at least three bedrooms increased the most since the third quarter of 2012. The average price that a Manhattan condominium sold for in the third quarter of 2013 was $1,864,711. This is an increase of 9 percent from the third quarter of 2012.
Brown Harris Stevens provide quarterly, comprehensive looks at Manhattan's residential market based on the Industry’s most extensive database of transaction data. Along with Manhattan, the firm focuses on Residential Market Reports for Brooklyn, Manhattan Townhouse, Hamptons and Palm Beach markets.