For quite some time now, Manhattan had been kind of quiet, especially with the recession taking a toll on home sales and people's spirits. But things seem to be turning around now, especially with new data revealing that real estate prices across Manhattan managed to stabilize during the current year for the third consecutive quarter.

Chances are that sales will now see the much awaited boom, which is something that the city had dearly missed over the past year.

The economic meltdown hit all the economic sectors, with the housing market being one of the most hurt segments. And places like Manhattan, which is probably one of the most happening and expensive places to purchase property and live in, were hit the hardest. Not only did the people stop buying any residential property in the area, thereby hurting the prices, some who found it too expensive to stick around decided to move away.

But things seem to be taking a turn for the better now. With the economy improving, the housing market has started to improve, and with that, Manhattan's residential properties have also started to record a substantial gain in sales figures.

In the first quarter of the ongoing year, sales of apartments across Manhattan rocketed to hit figures that were not seen since the recession pulled the market down.

So we can now expect the same fun and frolic to come back to one of America's hottest and wildest cities. Things will be much merrier and if you had been waiting to get your hands on a beautiful piece of property in Manhattan, now would be the right time. But you better hurry, or all the good ones might just be gone!

And the best part - the prices are still much lower than what you would have paid had the recession not happened!