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Market Report: Revisiting the $1000 PPSF Barrier

With most of the milestone Manhattan sales price points having been obligerated over the past year, there's not too much shock and awe in a market report these days. But the latest Halstead report (February) breathes fresh life into the figures game -- the average Manhattan condo now sells for more than $1000 per sqare foot ($1021 for pre-War; $1000 for post-War). We pause for reflection...Other highlights:

1) Average Manhattan sales price: $1,207,187, up 8% year-over-year
2) Median Manhattan sales price: $720,000, up 4% yoy.
3) Big gainer #1: East Side 1BR median, up 28% to $629,000
4) Big gainer #2: West Side studio median, up 28% to $395,000
5) Big gainer #3: Dowtonw 2BR meidan, up 32% to $1,222,500

The rest of the report here, presumably, in due time.

UPDATE: After pausing for reflection (as suggested above), we have remembered that this is indeed not the first time this has happened. Recall, for instance, December '05. In addition, while the year-over-year figs look nice, the month-over-month picture ain't as pretty. We retract half of our awe and most of our shock. Carry on.