In real estate — as in life — multimillion-dollar outliers are often touted as a bellwether. But that doesn’t hold water in Manhattan this quarter. While sales for properties priced at over $5 million tumbled about 38 percent year over year, properties below that threshold accounted for more than 95 percent of the quarter’s transaction volume and saw sales rise by 1.6 percent, according to appraiser Jonathan Miller, author of Douglas Elliman’s fourth quarter report.
source https://therealdeal.com/2020/01/03/pricey-manhattan-home-sales-dropped-40-this-quarter/
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