NEW YORK (Reuters) – The average sale price for a Manhattan apartment topped $1.2 million in the first quarter, a new record, as the supply of properties for sale shrunk, according to the Prudential Douglas Elliman Manhattan Market Overview.
The average sale price rose to $1.21 million — up 23 percent from the final quarter of 2004 and up 26 percent from a year ago.
In the condominium sector, the average sale price jumped to $1.55 million
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