Manhattan Luxury Condo Market Soars
Further proof that some markets and some locales are completely resistant to any kind of real estate downturn, Prudential Douglas Elliman Real Estate has released its third quarter report on Manhattan condos and co-ops, and the numbers are astonishing. Year over year, the report cites a 43.6 percent drop in luxury inventory and an increase in luxury aggregate sales dollars of 87.1 percent! Don’t believe me? I didn’t believe it either. See for yourself — check out page 4 of the report at:
http://www.prudentialelliman.com/NYCPhotos/retail_reports/mmo_3q07.pdf
