Manhattan Residential Property Listing Prices Plummet By 10.9 Percent

Manhattan Residential Property Listings Prices Plummet By 10.9 Percent Compared To Last Year

Manhattan Residential PropertyThe real estate website, The Real Deal is reporting that Manhattan residential property listing prices are plummeting. The website also states that listing prices are down nearly 11% from this time last year.
During the week of April 5th through April 12th, the average listing price for Manhattan homes stood at $2.2 million. Prices dropped by 10.9 percent compared to the same time last year.
The average price per square foot in Manhattan also dropped by the same percentage.
Square foot pricing decreased by 3 percent year-over-year to $1,749 per square foot.
Manhattan is flooded with listings. The borough has 6,282 homes in on the market. This is a 9% increase from last year.

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