Manhattan Apartment Sales See Worst Decline In 30 Years

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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.

{Matzav.com}

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