Jan
04
Manhattan Resale Home Prices Tumble the Most in Four Years
By-
Median for previously owned apartments drops 6.3% to $900,000
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Era of ‘no shame’ in overpricing may be over, appraiser says
Manhattan resale home prices tumbled by the most in more than four years, a sign that sellers are lowering their expectations in a slowing market where buyers have the option to walk away.
The median price of previously owned condominiums and co-ops fell 6.3 percent in the fourth quarter from a year earlier to $900,000, according to a report Wednesday from appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. It was the first annual decline since the beginning of 2015, and the biggest since the third quarter of 2012, when resale prices dropped 8.1 percent…
Manhattan Resale Home Prices Tumble the Most in Four Years
