The answer to this would be it depends where in New York City. Are you talking about all 5 boroughs which are vastly different? If you are talking about Manhattan, which is what people from outside New York usually mean when they say New York City, even here it depends upon the neighborhood. I'm sure you've heard the phrase on the National Association of Realtors commercials "real estate is local." The neighborhoods of Manhattan vary vastly and properties in different areas move at different rates. Our data is always broken down by neighborhood, e.g. Upper West Side, Chelsea, Village, Upper East Side, etc. You will find $2MM properties in all Manhattan neighborhoods.
A real estate professional should prepare a comprable market analysis for you. This will allow you see what is currently on the market, recently sold and in contract within the past 30 - 90 days or so. This is a great tool for getting an apartment sold without wasting time and money.
I welcome the opportunity to further discuss your situtation and I am open prepare a comprable market analyis for you, if need be.
Bond New York Properties LLC