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2Q-08 Manhattan Market Report: Buyer's Market

Manhattan market reports were released today from Miller Samuel, and major Manhattan brokerages.

Sales of coops and condos fell 21.8% compared to same quarter last year. Inventory rose 31.2% but the median sale price rose 14.5% Sale prices were down 3.1% from the previous quarter.

The market reports have been much anticipated by brokers. The data only confirms what we've been seeing in the market. I found out the reports were released when Glenn Roberts from Inman news contacted me to talk about the Manhattan market and trends.

For the complete story: Sales still falling in Manhattan from Inman News. For the the complete market report Miller Samuel.

This link: Short term glut. Long tern opportunity was my first blog post. It was written June 23, 2006 the last time I thought we were in a buyer's market. It is posted on my outside blog nyc BLOG estate that I started about 2 weeks prior to discovering activerain. I think it is still relevant today.

Posted by Mitchell Hall, Associate Broker, New York, NY on 07/02/2008 09:46 PM

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2 Comments on 2Q-08 Manhattan Market Report: Buyer's Market

Mitchell, interesting stuff here! I sort of follow the Manhatten thing vicariously. One of these days, I'll move back!

07/03/2008 07:41 AM

by Patricia Kennedy (Evers & Company)

Pat, There are a lot of good opportunities for buyers right now.

07/03/2008 08:21 AM

by Mitchell Hall, Associate Broker, New York, NY (Coldwell Banker Previews International)