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Elliman Report: Manhattan Sales 2Q 2017
The year over year uptick in Manhattan sales activity that began in the first quarter continued into the second quarter. The number of sales jumped 15.2% to 3,153 from the year-ago quarter, the most quarterly sales in nearly two years. The largest rise in sales was seen in the re-sale market, which surged 16.4% over the prior year period. New development closings rose 10.1% over the same period, accounting for a 17.6% sales market share, including legacy contracts signed several years ago that closed during the quarter.
