NEW YORK CITY- New York City's condo market is facing the music. Data shows tunes once playing over an unfolding market correction have paused, revealing a dip in sales volume and a shift in market activity in the sector, according to Diane Ramirez, chairman & CEO of Halstead.
Manhattan apartment sales volume has dropped 16% from the third quarter of 2018, with sales over $5 million falling 48%, pushing the average apartment price down to $1.6 million, 13% below year-over-year, according to Halstead's Third Quarter 2019 Market Report based on 2,114 third-quarter sales, 14% fewer than the same period last year.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
