Manhattan Real Estate Updates » 2008 http://manhattangrid.com Manhattan Real Estate News From Patrick Lilly Mon, 19 Apr 2010 22:35:52 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 State of the New York Real Estate Market – Manhattan 4th Quarter 2008 http://manhattangrid.com/2009/01/15/state-of-the-new-york-real-estate-market-manhattan-4th-quarter-2008/ http://manhattangrid.com/2009/01/15/state-of-the-new-york-real-estate-market-manhattan-4th-quarter-2008/#comments Thu, 15 Jan 2009 06:00:43 +0000 Patrick Lilly http://lilly.realty-buzz.com/?p=28

Fourth Quarter stats are in for the Manhattan residential real estate market in 2008. Here is an overview taken from multiple sources:

  • Prices are down 20% from July of 2008
  • Sales down 57% from same period in 2007
  • Over 9,000 apartments are available for sale, up 3% from the previous quarter
  • The average discount between asking price and sales price increased to 7.3% from 2.7% the year before
  • Average days on market is 159 days, up from 131 days in the previous quarter
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