As noted in the post below, three major market reports came out in the last week.
The summary: all three agree sales volume down about 50% from 1 year ago and
slightly more from the volume peak.
Prices of resales (all stock excluding new development) are down roughly
25% from the price peak.
The second stat is from the Prudential Douglas Elliman Manhattan Market Overview for the Second Quarter. It is the most relevant metric of the current state of the market in Manhattan.
All the reports noted the uptick in sales activity in May and June.
These stats are subject to all the usual caveats
See the post below for a more detailed discussion.
The summary: all three agree sales volume down about 50% from 1 year ago and
slightly more from the volume peak.
Prices of resales (all stock excluding new development) are down roughly
25% from the price peak.
The second stat is from the Prudential Douglas Elliman Manhattan Market Overview for the Second Quarter. It is the most relevant metric of the current state of the market in Manhattan.
All the reports noted the uptick in sales activity in May and June.
These stats are subject to all the usual caveats
See the post below for a more detailed discussion.
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