Manhattan home prices soar to median $972,000

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While home prices in other parts of the country are still 20% below their housing boom peak, demand for large, luxury apartments has helped home prices in Manhattan almost fully recover from the housing bust.

During the first quarter, the median sales price for a condo or co-op in Manhattan rose 18.5% year-over-year to $972,000, according to Douglas Elliman.

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