If it's April, it's time to get quarterly real estate data. The NY Times reports that the "prices and number of apartments selling in Manhattan rose" during the beginning of the year. Brown Harris Stevens and Halstead Property say sales were up 12% versus 2006's 4th quarter. And in an amusing example of how different data can be, BHS and HP say prices rose 6%, but Prudential Douglas Elliman says prices rose 5.4% and Corcoran says they rose 12%.
The data also suggests that the price increases were greatest for the biggest Manhattan apartments and for Brooklyn apartments overall. Anyone who bought in Brooklyn a year or more ago, feel good: Apparently prices have increased by 22% there, "especially those in newly constructed or converted buildings."
And though prices have been rising, it's the many new apartment buildings that have added to inventory and kept prices from going up too much. Well, "too much" for the rich people - for regular New Yorkers, it's another story. Which is why thought this comic from Dustin Glick was apropos.