New Decade, New Manhattan Apartment?

The median sales price of a Manhattan apartment hovered around $810,000 in the fourth quarter of 2009, down from $900,000 in the final period of 2008. This is also down about 5% from the third quarter of 2009. Interestingly, the number of apartments on the market fell by close to 25% in the fourth quarter, which may be an indication that prices may be bottoming out. In any event, 2010 will likely shape up to be an excellent year for aspiring Manhattan homebuyers. Interest rates remain near record lows, and the tax incentives for new homeownership have never been better.