Bubble Wrap
Entry
Manhattan on clearance: Comparing price cuts by neighborhood
The Real Deal with several industry experts break down current pricing levels in the Manhattan real estate market and discuss what level prices need to come to in order to see activity pick up.
The comparison found that in every neighborhood, current listing prices and recent actual sales differed widely, indicating a deep disconnect between sellers and buyers in the current downward market. Median listing prices would need to drop from 8 percent in Soho and Tribeca to a whopping 42 percent in the West Village and Greenwich Village just to equal the actual median sales price in those neighborhoods during the last quarter of 2008.
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posted about 8 months ago
