Manhattan sales contracts fell 31% in August while deals in the suburbs and Florida surged, according to a report from Douglas Elliman and Miller Samuel.The high-end is suffering the biggest drop — contracts for condos and co-ops price at more than $4 million fell 44%.
There were 585 sales contracts for condos and co-ops in Manhattan in August, compared with 848 a year ago, according to a report from Douglas Elliman and Miller Samuel. The high-end is suffering the biggest drop — contracts for condos and co-ops price at more than $4 million fell 44%. The inventory of unsold apartments in Manhattan is piling up fast. There were more than 2,400 new listings in Manhattan in August — more than four times the number of sales contracts.
There are also signs that the strength outside of Manhattan is being fueled by wealthier buyers, who are critical to Manhattan's tax base and real estate market. Sales contracts in the Hamptons more than doubled in August compared with last year, with 47 contracts signed above $4 million.
robtfrank Wow, not looking good for NY - Manhatten. What's up with this? Attn: BarbaraCorcoran
robtfrank $CTRM The same talking head said that $0 oil was The New normal you better get in on transport early it moves like a commodity
Making room for NYC refugees. Wait till they find out there is no state income tax.
Mass exit out if Dem run cities & states.
Looks like another bubble
All those NYers
Im moving to Florida from NYC. Hopefully I will help it turn into a blue state
Couldnt happen to more deserving people.
So we got some vacant apartments then right NYCMayor why are you not forcing them to accept our unhoused invidviuals? Surely empty apartments vs the MILLIONS YOU SPEND ON HOTELS FOR SHELTERS..doesn’t make sense..
Why pay to live proximate to a $50 burger if the city is dead and NYC'ers are now not just ornery but freaked-out too?
Really interesting, but also need to understand context. Manhattan was already suffering pre-covid due to supply and demand issues
Thanks to NYCMayor
great management by the NY gov 😆