MANHATTAN RESIDENTIAL SALES REPORT-3RD QUARTER 2014
The Manhattan real estate market settled into a stable growth mode in the third quarter of this year, with the median sale price rising less than one percentage point since last quarter and 4.1 percent from last year. However, the third quarter failed to add inventory to lift the market out of its persistent supply slump. The number of homes listed for sale in Manhattan during the third quarter fell 6.0 percent from the second quarter in the spring season. Available homes for sale remain in historically short supply, with inventory 1.2 percent below last year’s level and 15.9 percent below Manhattan’s 5-year quarterly average.