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Manhattan Residential Sales Reach New High for Q1
Residential sales in Manhattan set records for the third straight quarter, with 2022’s first quarter registering the highest number of sales for a first quarter in 33 years of tracking, according to a Douglas Elliman report prepared by appraisal firm Miller Samuel. Overall price trend indicators were higher than in the same period before the pandemic.
Co-op median sales price posted significant annual gains for the fifth consecutive quarter and were higher than pre-pandemic levels. Condo sales were up by more than 50% annually to reach the highest Q1 sales level in 15 years of tracking. Luxury listing inventory fell annually for the third straight quarter and remained below pre-pandemic levels.
New development price trend indicators continued to remain well below pre-pandemic levels. However, new development sales were nearly double year-ago levels, the fourth straight quarter of significant annual increases, Miller Samuel reported.
- ◦Sale/Acquisition
- ◦Economy


