Brokers are liers. These answers by them clearly prove it. Prices dropped dramatically.

I have to strongly agree with Richard. The Harlem market has stabilized, but is definitely not dropping. The higher end properties are still making record sales prices, as he noted, even the rental market has risen. investors are taking a great deal of time in thoroughly seeking out the best that Harlem has to offer and are finding wonderful bargains to suit their needs.

Prices are not dropping. The wild increases of the last few years have leveled off, and there are great opportunities for buyers and sellers alike. The market is fair and even right now. Harlem presents very good value and a lot of opportunity for buyers who want a neighborhood that is affordable and going through a terrific renaissance.

Pricewise the Harlem market has stabilized, but is not dropping. In fact, we recently raised some of the prices on the new development I am working on (The Delany Lofts on 115th, http://www.delanylofts.com). Like pretty much all of Manhattan, the number of real estate transactions has declined, but prices for the most part have either stabilized or have risen in the case of higher end properties (particularly very high end properties, which are still fetching record prices). And the investors in Harlem are out there are indeed looking, many of whom are from overseas looking to invest their Euros in some New York City real estate.