Report: Home Prices Have Increased 20% Since 2006
By Special to the Sun | May 15, 2007
Citywide home prices shot up more than 20% between early 2006 and 2007, a new report says, with the biggest gains seen in Manhattan.
The average sales price for an apartment in the city rose to $745,000 in the first three months of 2007, up $140,000 compared with a year earlier, according to a report released yesterday by the Real Estate Board of New York.
Previous findings by city brokerages noted more modest gains over the past year, though their data was generally confined to Manhattan.
