Manhattan Real Estate Sales Second Quarter 2012 -- Prepared by Miller Samuel
Report reveals stable housing prices, strong sales for entry level and luxury market, continuation of low inventory and steady new development sales. New York, NY (PRWEB) July 03, 2012 The Douglas Elliman Report: Manhattan Sales 2Q 2012 reveals that Manhattan housing market remained stable during the second quarter, with a surge in entry-level sales and the luxury market at a high level of pricing. The listing inventory fell 13.5% from 2011 and co-ops saw more activity than condominiums this quarter, largely due to a decline in supply. Luxury market prices continued to fluctuate each quarter, but at a high level, and the new development market share held steady at 16.4%. “It was a busy spring season for the Manhattan real estate market,” said Dottie Herman, President and CEO of Prudential Douglas Elliman. “We saw stable prices and a significant increase in sales as first time homebuyers responded to record-low mortgage rates and rising rental prices. The higher end of the marke