Apartment sales surged in Manhattan during the third quarter, hitting the highest level in more than 32 years as more people get vaccinated and return to in-person school and work.
Home sales in New York City cratered during the pandemic -- especially in Manhattan, where more affluent and mobile residents fled the city during the shutdowns -- but sales numbers from brokerage firm Douglas Elliman, and appraisal and consulting firm Miller Samuel, suggest the borough is bouncing back."Sales activity surged 229% over last year," said Jonathan Miller, president and CEO of Miller Samuel.
Apartment sales priced at above $4 million rose by 133% in the latest quarter compared to the third quarter of 2019, while the number of sales below $4 million increased by 73% from two years ago.But the rest of the Manhattan market is coming along, said Miller. "Compared to last year, the market is more normal," he said."All price sectors are strengthening, it isn't just the top end.
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