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Manhattan home sales tumble as buyers push back

The added supply is expected to push home prices lower as buyers gain the upper hand. "Price adjustment is the trigger," Cervi said. "That’s what brings people back into the market." The wealth of the Hamptons real-estate market is closely correlated with those of nearby Manhattan, another real estate market that is quickly cooling.

The added supply is expected to push home prices lower as buyers gain the upper hand. "Price adjustment is the trigger," Cervi said. "That’s what brings people back into the market." The wealth of the Hamptons real-estate market is closely correlated with those of nearby Manhattan, another real estate market that is quickly cooling.

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What is a “Flipped” home? A flipped home is one that has been purchased, has been renovated and/or remodeled, and now is listed for sale for a much higher.

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Unfortunately, the average closing costs in New York for buyers will. Closing is the period during the real estate sales process where the title.

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Manhattan home sales slowed to the lowest levels in nearly a decade last quarter as buyers more forcefully negotiated discounts. In the first quarter, condo and co-op sales fell by 25%, the most.

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Home sales in Manhattan plunged by the most since the recession as buyers at all price levels drove hard bargains and were in no rush to close deals. Sales of all condos and co-ops fell 25% in the first quarter from a year earlier to 2,180, according to a report Tuesday by appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate.

Declines in sales typically precede price by a few months. See: Manhattan home sales tumble most since 2009, as buyer’s push back: The median price of all sales that closed in the quarter was $1.095.

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