NYC sellers boosting residential asking prices

After months of rapidly dropping prices in Manhattan’s residential market, more brokers say they’re seeing seeing stabilization across all types of housing stock, according to Crain’s. The rebound has been so pronounced that some brokers, like Marketing Directors CEO Adrienne Albert, are even raising prices on new development units. Albert, who recently boosted prices by 3 percent to 5 percent at the 44-unit Apex condominium in Harlem, said she’s one of many who are feeling more bullish. “There is pent-up demand, more buyers are out, and there seems to be quite an appetite,” Albert said. “The market is now slowly but surely becoming a seller’s market.” [Crain’s]