Industry NewsMarkets & Economy

Sales still falling in Manhattan

Real estate professionals say buyers are in the driver's seat
Published on Jul 2, 2008

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by CareyBot

Residential sales in Manhattan continued to slide in the second quarter, according to market reports released today, falling back from last year's lofty peaks.

Real estate and appraisal company Miller Samuel, in a quarterly report prepared for Prudential Douglas Elliman Real Estate, reported that sales of all co-ops and condos fell 21.8 percent in the second quarter compared to the same quarter last year, with inventory swelling 31.2 percent and the median sale price rising 14.5 percent.

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