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Trends from last quarter:
- The median Manhattan sale price this quarter was $999K, up 12% from last year and 5% from last quarter to its highest level in more than ten years. The average sale price was also up compared to Third Quarter 2014, increasing 4% to $1.714M.
- New development sales during Third Quarter 2015 increased a substantial 69% from last year and 30% from last quarter to 558 units. The growing new development market in Manhattan also lead to a notable annual increase in inventory, which was up 18% from last year to more than 800 units.
- Signed contracts were up 11% from last year to 3,250, leading to one of the strongest summer selling seasons in the last five years.
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