- Miller Samuel Real Estate Appraisers & Consultants - http://ms.clash.outthinkgroup.com -

[Getting Graphic] Looking At The Manhattan Price Mix is A1

Getting Graphic is a semi-sort-of-irregular collection of our favorite BIG real estate-related chart(s).

Click here for full sized graphic. [1]

Christine Haughney, the reporter who presented the A1 (page one) New York Times story today: $6 Million for the Co-op, Then Start to Renovate [2] asked me to come up with a way to present sales prices by some sort of mix to represent what has been happening over the past decade. We came up with a way to do it and the New York Times graphics department went to town on it, so to speak. Christine did a really good job on the article.

While this is my sixth time on A1 (but who’s counting [wink]), I was even more excited about the final result and how clearly the chart illustrates the trend of a shifting mix toward the higher end of the market.

From a contrarian perspective, the chart also shows that even on the island of expensive apartments, there is still a lot of sales activity below $1M. I know, I know, the median sales price in the US is about $220k. But you can buy strawberries in Manhattan at 3am, and that convenience has got to be worth something.