Manhattan apartment prices fell for a third consecutive quarter as Wall Street job losses drained demand and the decline in co-op and condominium values reached 21% since the market peak.

The median price slid 10% to $810,000 in the fourth quarter from a year earlier, down from almost $1.03m in 2008, New York appraiser Miller Samuel and broker Prudential Douglas Elliman Real Estate said today. The number of sales jumped 8.4% to 2,473 as lower prices pushed transactions above the 10-year quarterly average.

bloomberg.com