Manhattan homebuyers make fewest first-quarter deals since 2009
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The first quarter Manhattan residential real estate market experienced the lowest quarter in six years. The total number of sales in the first quarter fell 24.6% compared to the first quarter of.
Manhattan Home Sales Tumble Most Since 2009 as Buyers Push Back.. Home sales in Manhattan plunged by the most since the recession as buyers at all price levels drove hard bargains and were in no rush to close deals. Bloomberg.
Manhattan Homebuyers Spoiled for Choice Drive Bolder Bargains. In the three months through June, purchases fell 17 percent from a year earlier to 2,629, according to a report Tuesday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate. That was the lowest tally for a second quarter since 2009, when the global recession chilled deals.
Lower Manhattan saw 1.8 million square feet of office space leased in the first quarter of 2017. TAMI tenants now make up 26 percent of the market, compared to 19 percent in 2016. Read the full.
In the first quarter of 2009, the decline in inventories was responsible for. Buyers expected the tax credit to expire on Nov. 30, which means they would have tried to make a deal by early October.
Transactions totaled 2,121, the fewest for a first quarter since 2009, appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate said in a report Tuesday. "You have a seller generally overpriced and willing to make discounts that bring them closer to the market, but the buyer is not willing to come up," Jonathan Miller, president of Miller Samuel, said in an interview.
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Real estate in Manhattan isn’t a bargain by anyone’s definition, but the market has nonetheless cooled, according to a prominent realtor’s latest report. Some 2,629 real estate sales closed on the.