Shoot - I just read no less than ten different headlines reporting the news of the Manhattan real estate market - which way did it go? The New York Times today reported that sales are up - the number of transactions are down. Good grief.
This report came in today from Property Shark.
Key Takeaways from 2Q08 Manhattan Sales:
• Sales Transactions: The number of residential sales transactions declined by 38% compared to the same period in 2007, with re-sale transactions showing the largest decline.
• Median Sale Price: Median sale price rose 13% over the same quarter in 2007. Median price was down 2% for re-sale properties and up by 48% for new development units.
• Region of Manhattan: For re-sales, the uptown Manhattan market had the largest increase in median sale price compared to the same quarter last year. Among new development sales, the upper west side showed the greatest median sale price increase compared to 2Q07.
All I can tell you is that I think I'm the only one in Manhattan right now sitting at an office desk before this July 4th holiday.
Enjoy!
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