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Prudential Douglas Elliman Manhattan Townhouse Report 2001-2010

…There was an increase in sales in 2010 as purchases took advantage of lower prices compared to peak levels in 2008. Manhattan had a total of 197 sales in 2010, 32.2% more than 149 in 2009 and the same as the number of sales seen in 2001. This accounted for 1.9% of all residential sales including co-ops and condos in 2010. Listing inventory remained essentially unchanged at 397, slipping from 402 in 2009. Since newly constructed townhouses are not readily in demand, no new housing stock has been added to the market keeping supply in check. Days on marketСthe number of days between the last date the listing price was reduced, if ever, to the contract dateСaveraged 117 days, down from 142 in 2009. Listing discountСthe percent difference between the last list price adjustment, if any, and the contract priceС was down sharply to 8% from 15.3% in 2009. As a result of the increase in the number of sales and the stability of listing inventory, the monthly absorption rateСthe number of months to sell all activity listings at the current pace of salesС was 24.2 months, down from 32.4 months in 2009…

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