Thursday, April 24, 2008

Manhattan Real Estate Continues to Flourish

The Manhattan real estate now continues to climb greater heights due to its wealthy buyers, limited supply of homes, strong job market and weak dollars which is roping in many foreign buyers. Real estate in cities such as San Francisco and Seattle continues to go up. During the first quarter of the year 2008; the median price for a Manhattan house went up by 18 percent, to $872,000, when compared with the same period in 2007.

Based on a repot from a Web portal that was released on April 17th; The median price for all of New York City that includes much weaker middle-class neighborhoods in the Brooklyn, Bronx, Staten Island and Queens rose up to 4 percent in the first quarter, to $535,000. Brighter spots in real estate can also be seen in Charlotte, N.C. and Austin, Texas.

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