The annual Manhattan Market Report, prepared by real estate appraisal and research firm Miller Samuel Inc. on behalf of Prudential Douglas Elliman Real Estate and released this week, also reveals that for-sale inventory at the close of 2008 grew 40.9% compared to end-of-year 2007.

In 2008, the average sales price for Manhattan co-ops and condos rose 17.8%, to $1.59 million. Average days on market rose 14.4%, to 143 days, and the average discount on sales from the list price was 4.1% larger than the 2.4% in the prior year.

Ranging from an average $993 per square foot for studios to $2,831 per square foot for apartments with four or more bedrooms, the overall average price per square foot of Manhattan apartments jumped 11.7% in 2008, to $1,251.

There were more sales of two-bedroom apartments (4,139) than all other types of apartments in 2008, the report states. And all apartment types experienced a sales decline last year except four-plus-bedroom apartments, with a rise from 169 sales in 2007 to 193 sales in 2008.