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manhattan real estate mar: Manhattan 4th Quarter 2011 Market Report - 01/07/12 07:08 PM
Over the past year, a sharp decline in condo sales lowered the overall average and median Manhattan apartment sales prices over the past year. 
Condo closings feel 24% from the 4th Q2010 accounting for only 40% of all apartment sales.
The economic and financial turmoil that began in the late summer led to fewer transactions than a year ago. 
While there was stagnation in hiring recently, New York’s recovery remains well ahead of schedule.  This combined with a relatively low rate of available apartments has led the Manhattan market to continue to outperform the rest of the nation.
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