Elliman Report: Manhattan Sales 4Q 2017

Sales activity for the Manhattan housing market was at the lowest fourth quarter total in six years. The pace of the fall market noticeably cooled as market participants awaited the housing-related terms of the new federal tax bill. This translated into a decline in year over year closings for the final quarter of the year, although contract volume showed an uptick. There were 2,514 sales to close in the final quarter of the year, down 12.3% from the prior-year quarter. The decline in sales…