Manhattan home sales slide in a market clogged with listings

Listings piled on to the market at an even greater rate, climbing 13% to 6,925 homes, the most for a third quarter (3Q) since 2011. A surging stock market typically fuels buyer bullishness on Manhattan real estate – but not this time.

(Bloomberg) — It’s been a rough year for Manhattan’s home sellers, and they’re not about to catch a break any time soon. Manhattan Home Sales Tumble in a Market Clogged With Listings Bloomberg the Company & Its Products The Quint

Existing-home sales fall to three-year low, miss estimates U.S. Existing Home Sales Fall to Three-Year Low, Miss Estimates – Sales of previously owned U.S. homes fell to the slowest pace in more than three years, falling short of estimates and indicating that the housing market remained in a slowdown as the year ended. Contract closings decreased 6.4 percent from the prior month to an annual rate of 4.

This was 40 to 50 percent cheaper than Manhattan. there are less homes for sale, which is leading to bidding wars and sale prices above the asking price. In fact, there were only 878 active houses.

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Manhattan sales continue to slide in Q2. "The market has reset from the levels we saw in 2017," said Jonathan Miller, CEO of appraisal firm Miller Samuel and the author of the report. "Sales are still off, and overall price trends are off." At the same time, the median sales price dipped 7.5 percent to $1.1 million.

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NEW YORK (Reuters) – Manhattan apartment sales. market to an abrupt halt, said Jonathan Miller, president and chief executive of Miller Samuel Real Estate Appraisers and the author of the report..

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So he was shocked when the upper west side listing got “absolutely. Kerwin is one of many Manhattan homeowners struggling to accept the new reality of the New York City real estate market, as.