High-end real estate sales in Manhattan reached $7.3 billion in the first quarter of 2022, a marked improvement after the industry was hit hard during the two-year pandemic, according to the latest sales reports. The positive data is one of the strongest starts to a year on record as the NYC market accelerates upward, with no sign of a slowdown. There were 3,585 sales in the first quarter of the year, a 46 percent increase from the first quarter of 2021, according to Corcoran. Total sales volume has surged by 60 percent, as an inventory shortage in Manhattan has led to a rise in housing prices. Corcoran President & CEO, Pamela Liebman said that “2021 was a historic year in the Manhattan market, and the fervent activity that fueled last year’s sales has continued into 2022.” “With robust sales and improving prices, barring any unexpected shocks, this stellar first quarter should …
Manhattan Residential Real Estate Sales Hit $7.3 Billion in Q1 2022.
April 5, 2022
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