Townhouses for sale NYC
A town house in New York City was very affordable at one time but not any more. Today the spike in already high prices have many wishing that they should have purchased a town house 10 years ago. The reason behind town house pricing going up,up,up is that town house prices have been on the rise since 2006 and will continue with this upward trend in the future.
There was a time when $2.7 million would allow home buyers to be able to buy a Manhattan townhouse but, that was 10 years ago. In 2015 the price of townhouses skyrocketed to a whopping $5.25 million. These days town houses make up 2.5% of the real estate market and they are not easy to find.
Some real estate Experts expect continued upward trends in the town houses section of the market this 2016. There’s expected to be a listing of a 20,000 -sq-foot Upper East Side town home with a listing price of $85 million.
On the other hand housing co-ops and downtown condos were not very much sought after like townhouses but still, there were double digit gains. In 2015, Manhattan coops and condominium sold for $1.01 million – a rise in price of more than 22% as in 2006, prices were at the $830,000 mark.
As Miller observes, “in these 10 years “we went through a roller coaster” of price increases and decreases, and then, after the dust settles, [prices are ] 22% above the beginning of the decade”.
