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by CareyBot

Correction: An earlier version of this article contained an incorrect headline. Sales were down 48 percent year-over-year in the first quarter while the median sales price rose 3.1 percent. We apologize for this error. The number of Manhattan co-op and condo sales sank 47.6 percent year-over-year in the first quarter, with the median sales price rising 3.1 percent, according to a report prepared for Prudential Douglas Elliman Real Estate by real estate appraisal company Miller Samuel Inc. Sales were down by the same amount (47.6 percent) compared to the prior quarter, while the median price was down 8.3 percent. The price changes were dramatically different among new apartments (includes condos and co-ops) and previously owned apartments. The resale median price ($675,000) dropped 20....