Manhattan just delivered a warning to buyers waiting for expensive mortgages to force home prices down: borrowing costs are only one part of the equation. The borough’s median sale price for condos and co ops held at $1.25 million in the third quarter, matching the previous quarter’s record. Closed sales increased 8% from a year earlier while listings fell 10.7%, according to Jonathan Miller’s market report, as reported by Brick Underground. More transactions. Fewer available homes. Little relief in the…
MarketNew York
Manhattan’s Median Held at a Record $1.25M. High Rates Couldn’t Fix Thin Inventory.
Manhattan’s median sale price held at $1.25 million as sales rose and listings fell, keeping inventory tight.
