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3Q - 2017 Manhattan Sales

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Report Summary

The Manhattan market is in good condition with sales up sharply year-over-year, and activity overpowering the re-sale inventory, which simply can’t keep up.  Inventory has now fallen for two consecutive quarters after rising for twelve quarters in a row. While this elevated activity is not spurring runaway price growth, prices in the re-sale category are most definitely trending up.

The Northern Manhattan market, representing 8.6 percent of Manhattan sales, continues to feel the pressure from the remainder of Manhattan as buyers seek out greater affordability.  Like the markets to the south, heavy sales activity continued to overpower inventory.

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575 MADISON AVENUE, NEW YORK, NY 10022. 212. 891.7000 © 2017 DOUGLAS ELLIMAN REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE, THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT OR ZONING EXPERT. EQUAL HOUSING OPPORTUNITY. CalBRE# 01947727