In the first quarter of 2010, Prudential Douglass Elliman reports 2384 transactions happened in Manhattan – a 99.5% increase in volume from the same 2009 period.
The median price for an apartment in the first 2010 quarter was $868,000. This figure is 11% lower compared to the same period last year and 7.2% higher than the last 2010 quarter.
The luxury market is giving positive signs with many high priced sales happened in the last few months.
Interesting ...

Consider this:  last month, a single family building on the Upper West Side was sold at a new record high for the area in its category – $20 million.
Sure, a lone transaction doesn’t mean much but given its peculiarity, it is nevertheless a symptom of the sophisticated buyer’s change in attitude towards the current market.

On the other hand: Potential sellers are starting to realize that the situation is not as dark as few years ago ...