End-of-year reports from brokerages the Corcoran Group, Prudential Douglas Elliman and Halstead Property show a stable Manhattan residential market. The Douglas Elliman report prepared by appraiser Jonathan Miller showed average prices dropped about 5 percent from the prior quarter, but Miller said the quarterly decrease is due to a seasonal effect experienced each year going back for the last 16 years. Average prices remained 3 percent higher than this time a year ago, Miller’s report found. At the same time, listing inventory fell 22.2 percent from the prior quarter and the number of sales jumped 15.5 percent. more [Sun]
more [NYT]
Brokerages: Market is stable
January 03, 2007 12:00AM
