Everything is lower.

This is a good thing. Good for the consumer, banks, investors, etc.

Actual sales prices for re-sales are down 10-20% across the city and the deals that have been signed the last 3 months. Developers are giving some incredible discounts and incentives to sell their new construction condo inventory, serious sellers are paying higher 7 and 8% commissions to compete with new buildings. It's an incredible opportunity for buyers who can qualify with the very strict bank requirements (most are requiring at least 25% cash down) and tightening co-op board requirements as well. My team is ranked top 1% in the U.S. for rental and sales volume, let me know if I can be of further assistance. Check out my credentials and some of my listings on my web site if you have a few moments.

Manhattan's "bubble" has held for a long time but is completely burst in most areas and thinning out considerably near the bursting point in other areas...but yes it is safe to say that prices have gone down. Now's a good time to put in a bid and grab a great deal for yourself!

NYC real estate, especially Manhattan, has held pretty strong throughout the last couple of years. However, prices in Manhattan have also dropped from a year ago. It's a great time to buy.

Ralph Windschuh
Century 21 Princeton Properties
631-467-0009
rwindschuh@c21princetonproperties.com