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Wednesday, April 02, 2008 02:29:36 AM

BUSINESS

Apartment Prices Are Rising in Manhattan

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While housing prices are declining in the rest of the United States, they are growing in the center of New York City.

The average price for a Manhattan apartment in the first three months of 2008 was $1.7 million - or 33.5 percent higher than the same period last year.

The median price of a Manhattan apartment also grew to $917,000.

However, there have been fewer homes sold in Manhattan this year compared to previous years.

Words

to decline: to fall, to go down.

median: the middle number in a series of numbers.


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