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Elliman Report: Manhattan Sales 2Q 2019

After a six-quarter dry spell, the number of sales rose year over year due to a laundry list of factors but does not appear to indicate a complete reprieve from weaker market conditions since listing inventory continued to rise. The introduction of the new mansion and transfer taxes in the next quarter poached future closing volume from the third quarter to into the second quarter. The higher level of sales in the second quarter was in stark contrast to the low level of activity last year after the new federal…

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