NEW YORK ( TheStreet) -- Manhattan, New York second quarter 2010 market reports are out showing positive signs by all metrics. Prices increased slightly, days-on-market decreased and transactions increased. This is driven by low mortgage rates, good deals, increased consumer confidence and the first time homebuyer credit.
Report SummaryMedian price for the second quarter, according to Miller Samuel Appraisers, is $899,000, a 3.6% increase compared to the first quarter and 7.6% increase compared to last year. It is more realistic to say that prices have stabilized rather than risen because there has been a larger proportion of larger apartments that transacted.