Manhattan Apartment Sales Declined 18% in Third Quarter, as Rates Rose and Markets Fell

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Manhattan apartment sales fell 18% in the third quarter, as rising mortgage rates and declining stock markets put the brakes on New York’s real estate comeback

Apple Supplier Foxconn Says It Is ‘Cautiously Positive' on Q4, Adding to Debate Over iPhone 14 DemandHaber said she represents a potential buyer who was looking at a penthouse initially priced at $14 million, which came down to $12 million. She recommended putting in an offer of $9 million or $10 million"and if they take it, they take it."

"The full impact on sales and prices won't be known for at least another quarter," according to a report from Brown Harris Stevens. Brown Harris said that half of the closings in the third quarter were signed before mid-May, and don't reflect the full impact of rising rates. The high end of the market is showing the biggest declines. A report from Coldwell Banker Warburg found that both median discounts and median days on the market increased for apartments priced at $10 million or more. Co-ops in the"beautiful large pre-war apartments along Park and Fifth Avenues and Central Park West which have been aspirational homes for so many New Yorkers now linger for months, even years, without buyers," according to the report.

 

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robtfrank Great, plenty of available housing for illegal migrants!

lauferlaw robtfrank Maybe they’re too expensive.

robtfrank Sales have dropped 18% ? ... What about price$ ?

robtfrank Good.

robtfrank

robtfrank

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robtfrank Good.

robtfrank This little parrot does as he’s told by the guy on the left.

robtfrank Chumps!!!…

robtfrank WHY ARE YOU PPL COVERING THE CURRENCY BEING DESTROYED AND INFLATED AWAY!!!!!! When is there gong to come a time when CNBC doest suck?

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Manhattan apartment sales fall 18% in third quarter, marking reversalManhattan apartment sales fell 18% in the third quarter, as rising mortgage rates and declining stock markets put the brakes on New York's real estate comeback. Is an apartment a rental? And condos are sales? Not sure of the answer... . StopHazaraGenocide
Source: CNBC - 🏆 12. / 72 Read more »