Strong demand at the upper end of the Manhattan housing market has created excitement in apartment sales, while overall sales volume is being tempered by sluggish sales of lower-priced apartments. Sales of condominiums and co-op apartments is down 11% compared to Q2 2010 and prices remain flat. Although sales in contract on apartments selling for more than $5 million is 38% ahead of Q2 2010, moneyed buyers see the Manhattan market as an investment opportunity and are sensitive to overpaying for a listing.
Source: The Wall Street Journal
Continue Reading at: Apartments in Manhattan on Split Paths
Related PostsAlpha Properties NYC Manhattan Real Estate Blog