The Manhattan housing market saw the largest
number of sales since the credit crunch began,
reaching a yearly sales level consistent with the
annual average of the past decade. The robust
apartment rental market influenced the gain in
2-family and 3-5 family market share as 1-family
market share slipped over the past year. The
jump in market share of lower priced multi-family
sales pulled the price indicators lower. Listing
inventory as well as days on market expanded
year-over-year as all price indicators slipped.
The townhouse price indicators were more than
double their respective 2002 levels. East Side
and West Side market share of Manhattan sales
fell as Downtown and Uptown market share
expanded over the same period.