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- Despite summer typically being a slow time in Manhattan real estate, sales figures were strong in July with condo and co-op sales up 19% compared to last year.
- Seller negotiability is increasing in the condo market while conversely sales over asking price are increasing in the co-op market. The discount offered by co-ops relative to condos is attracting more buyers.
- The co-op market saw strong year-over-year gains in average price (up 15%) and median price (up 8%). Despite these increases, average price per square foot decreased year-over-year by 6% due to fewer sales over $3MM.
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