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NYC a Bright Spot in Dismal U.S. Real Estate Market
The New York City housing market continues to perform well, in stark contrast to the ongoing real estate woes nationally.
The Manhattan residential real estate market saw falling inventories, rising prices and a record number of sales in the second quarter, according to reports from major brokerage firms.
The number of condo and co-op sales doubled from a year earlier to 3,939 units, while the number of units on the market dropped 32% to 5,237, according to the Prudential Douglas Elliman Manhattan market overview report released Tuesday. The median sales price rose 1.7% to a record $895,000. ...
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