The low end of the Manhattan real estate market continues to have low inventory and rising prices but the high end of the market, which has been slowing down for several quarters now is pushing inventory into the realm of a balanced market (close to 6 months of housing supply).
Read or download the pdf of Brown Harris Stevens’ Chief Economist, Gregory Heym’s NYC economic report for August and the BHS Manhattan absorption report for August as well:
NYC August Economic Report: http://media.bhsusa.com/pdf/bhs_heym_report_08_2016.pdf
Manhattan August Absorption Report: http://media.bhsusa.com/pdf/BHS-Absorption-Report-August-2016.pdf
And for those interested in Manhattan townhouses here is the report for the first half of 2016: http://media.bhsusa.com/pdf/BHS_TOWNHOUSE_REPORT_FIRST_HALF_2016.pdf