Values fall for second consecutive quarter…buyers seizing on discounts pushes volume of sales to 13 year high…home values down 12%- 18% according to reports issued Friday…
Manhattan apartment prices fell for a second consecutive quarter, helping drive the biggest gain in sales in more than 13 years as buyers seized on discounts.
The median price slid 8.4 percent to $850,000 in the third quarter from a year earlier, New York appraiser Miller Samuel Inc. and broker Prudential Douglas Elliman Real Estate said today. The number of sales jumped 46 percent from the second quarter, the biggest third quarter increase since 1996.
Read the full article by Oshrat Carmiel “Manhattan Apartment Prices Decline for Second Straight Quarter” at Bloomberg (Oct. 2, 2009).