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.