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New York

Streeteasy launches Manhattan report

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Streeteasy.com, a real estate data site, has released its first quarterly housing market report for Manhattan. Along with an increase in sales prices and inventory and a decrease in closings, the report found that over 2,500 listings saw price cuts in the second quarter. That means there were about 25 percent fewer price cuts from the last quarter, but 12 percent more than last year’s first quarter. Listings with price cuts accounted for nearly 22 percent of all listings this quarter. The average price cut was 5.4 percent. Another real estate data site, PropertyShark.com, also just released its first quarterly market report, done with the Corcoran Group. TRD