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.
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