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2Q - 2014 Manhattan Sales

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Report Summary

The Manhattan spring market was very active with more sales than last year. Although inventory has been rising since reaching an unprecedented low at the end of last year, the supply of apartments for sale still remains unusually low. We saw the highest number of listings sell at or above their asking price in nearly six years. Sales have been rising for nearly two years and the co-op market has been particularly strong this year. Increasing prices have incentivized additional buyers to consider co-ops due to their greater affordability. We expect the improving economy, low mortgage rates and high international demand to continue to drive the market in the coming quarters.

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Produced in conjunction with Miller Samuel, a leading independent appraisal firm, our market report series is the benchmark for residential real estate market information and an essential reference source for consumers, the media, financial institutions, government agencies, researchers and other market professionals. Each report provides an analysis of price and sales trends as well as many other metrics to give readers an idea of current conditions as well as historical and emerging market trends.

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