Manhattan Real Estate Now Selling
Another article is just out confirming that real estate sales are picking up in select markets. The New York Daily News reported that buyers have returned to New York City and are snatching up prime Manhattan apartments.
In response to price cuts, tax incentives, and great mortgage rates, buyers are going after high end residential real estate. Pamela Liebman, CEO of The Corcoran Group, is quoted as saying that positive, market-friendly conditions are motivating buyers.
In May through June of this year, Manhattan residential real estate logged 3600 sales. This was a 47% increase in property sales over the same time period in 2009.
The article identified oversized, three bedroom apartments as one of the hottest items on the Manhattan real estate market.
Liebman, of Corcoran, was also quoted by NY Daily News as reporting that bidding wars had returned to the New York City marketplace. Aggressive buyers drove up bidding as Manhattan 
real estate inventory began to move … with more than 50% of Corcoran agents getting caught in the middle of a price war.
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