Manhattan home prices

[lily]

Even with the declining market some areas are still on the rise. In this article, it seems the the home prices in Manhattan are steadily increasing.

NEW YORK (CNNMoney.com) -- Manhattan real estate continues to buck national trends - New York home prices soared during the last three months of the year, according to several surveys released Thursday.

The median (midpoint) price for a condo or co-op apartment rose 15 percent to $915,000, according to the Corcoran Group, one of New York's biggest brokers. Surveys by two other brokerages, Brown Harris Stevens and Halstead, showed 14 percent growth, to $828,000.

A survey by Prudential Douglas Elliman showed lower growth, at 6.4 percent, but a median price of $850,000.

"It's like the Energizer bunny," said Pam Liebman, CEO of Corcoran. "It just keeps going and going and going."

Full article here: Manhattan home prices still crazy

[flippinout]

Even though the prices there are rising, will people still be able to obtain a loan of that amount with a reasonable interest rate?

Are the homes selling well at that price?

[lily]

The key for them is that it isn't average joe who is in the market to buy one of these homes. There are overseas investers, wall street retirees, people who don't mind paying a fortune for what they consider "luxury".