Manhattan Apartment Sales See Worst Decline In 30 Years


Manhattan apartment sales went down by 54 percent in the second quarter of this year, marking the steepest decline in 30 years, according to a report from Miller Samuel and Douglas Elliman obtained by multiple media outlets.

The median sales price fell 18 percent to only $1 million, the biggest decline in a decade. A study from Compass found there were only 1,147 sales in Manhattan in the second quarter, the lowest number on record.

The report noted that it took course over a period which overlapped with New York’s ban on in-person apartment tours, an “unprecedented shutdown [that] skewed the results.”

Read more at The Hill.




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