Real Estate

Resale market’s day in the sun? Listings spike 25 percent in Q2: Elliman

therealdeal.comCould it finally be the resale market’s turn in the sun?

Amid the softening high-end condo market, Manhattan’s resale inventory spiked 25 percent and prices stabilized during the second quarter, according to the latest quarterly sales report from Douglas Elliman.

In new development, the narrative of the last three quarters “has been ‘record, record, record’ because there was a huge flow of contract-to-closings,” said Jonathan Miller, president of real estate appraisal firm Miller Samuel and author of the Elliman report. “Yet that represents the market from 12 to 18 months ago, so record prices represent the market of more than a year ago, skewed to the high-end.”

Categories: Real Estate

Tagged as: ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s