In the second quarter, the median price for a condo or co-op was $865,000, which is up 5.4%.
At the beginning of 2013, the median price was slightly above $820, 500.
Accoding to Jonathan Miller, a New York-based appraiser, 10% of the new homes being built in Manhattan are targeting the wealthiest buyers. This leaves a lot of buyers - particularly lower and middle class individuals - to seek a home in the outer boroughs.
