Apartment sales contracts for Manhattan nearly plunged by 30 percent last month compared with June 2021, as the New York real estate market began to cool amid fears of recession and rising mortgage rates.
NYC real estate sales prices rose to a record high through the first half of the second quarter with rising prices and strong sales, exceeding the previous record set in the same period three years ago.
The median sales price in Manhattan rose by 10.6 percent, to a record $1.25 million, while the number of sales increased to the highest total for a second quarter since 2007, with over 3,800 closings, according to data from Douglas Elliman and Miller Samuel….