New York real estate has its lowest quarter in 6 years

Posted by Staff Reporter on Jan 03, 2018 10:34 AM EST
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New York real estate has its lowest quarter in 6 yearsmore big
New York real estate has its lowest quarter in 6 years

Manhattan real estate sales and prices took a fall in the fourth quarter, and they're likely to slide even further this year after the new tax rules take effect.

Total sales volume fell 12 percent compared with the fourth quarter of last year — the lowest quarterly level in six years, according to a report from Douglas Elliman Real Estate and Miller Samuel, the appraisal firm. The average sales price in Manhattan fell below $2 million for the first time in nearly two years.

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