Nowadays,  it's a fact that you can't really buy an apartment in Manhattan for less than $1 million. But there's more to it than that, of course. 

Yes, maybe the most shocking data point in the Eliman Report for Q3 sales in Manhattan, and others, is that median sales prices are right around $998,000. However, no bit of information exists in a vacuum, right? 

Take a gander at the graph below, and things will get more clear. Or, maybe fuzzier if you're not a numbers person.

It's worth noting that this time last year, the median sales price was a whopping $90,000 lower, at $908,000. 

It's wild to see that the average sales price is $1,737,565. That's insane. Out of all the spaces sold in the third quarter of 2015, many of them landed around the $2 million mark.

Not only that, listings stayed on the market about three weeks longer during the third quarter of 2014. So not only are prices on the rise, but there's less time to snatch up your dream apartment.

via Elliman

Many analysts are attributing the rise in price and drop in time on the market to an influx of new people to New York City, filling the growing number of available jobs.

The main thing to take away from all this is that yes, property costs are rising, but that is probably an indicator of a strengthening economy in NYC, which is a good thing... amirite?!

Check out You Can't Buy an Apartment in Manhattan for Less Than $1 Million. 

[via Elliman]