…Manhattan townhouse price indicators rose sharply
from the prior year. Price per square foot surged
45.9% to a record $1,566 per square foot as the
average square footage fell 16.4% to 3,760 over the
same period. The number of sales slipped 1.5% to
321 from the prior year, consistent with the trend
within the apartment market. Townhouse sales
accounted for 2.5% of all Manhattan residential
sales, unchanged from the prior year. Listing
inventory expanded 20.1% to 412 townhouses from
the prior year, slowing the absorption period, the
number of months to sell all listings at the current
rate of sales, to 15.4 from 12.6…