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The 1st Q Market report is here!

Here are some of the cool things you will read in the hot of the press Prudential Douglas Elliman 1st Quarter Market report for NYC Residential sales!

PDE report found that there were 2,384 closed sales in the 1st Q '10, an increase of 99.5 % from 1,195 in the same quarter of last year.

One reason that larger apartments are now being sold, brokers said, is because they are now more affordable than they used to be, which has lured some buyers off the sidelines.

In the Elliman report, Jonathan Miller found that the median price of a resale apartment rose 23 percent year-over-year to $830,000, which he attributed to the fact that studios and one-bedrooms made up 58 percent of the sales in the fourth quarter of 2009, compared to 48 percent in the first quarter of 2010.

http://www.prudentialelliman.com/images/marketreports/Manhattan_Q1_2010.pdf

Have you seen these yet?

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Paul Zweben, Licensed Associate RE Broker
pzweben@elliman.com
Carolyn Zweben, Licensed Associate RE Broker
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