After sales soared last quarter, Manhattan’s residential sales market is crashing back to reality — though low mortgage rates are softening the landing. The number of closed sales fell by more than 14 percent year over year in the third quarter, and the average sales price dropped to $1.65 million, down from over $2 million last quarter and $1.9 million in 2018, according to Douglas Elliman’s report authored by appraisal firm Miller Samuel. The swift
source https://therealdeal.com/2019/10/02/low-mortgage-rates-are-killing-manhattans-all-cash-buyer/
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