From CNBC.com…..
Apartment sales in Manhattan plunged by 46% in the third quarter, as homebuyers continued to flow to the suburbs and Florida, according to new real estate reports.
There are now about 10,000 apartments for sale in Manhattan, which would be a record, according to Compass. With so many new listings pouring onto the market and so few buyers, the inventory of unsold apartments continues to rise in a city that already had a glut of high-end apartments before the pandemic. The current supply of luxury apartments for sale would take nearly three years to sell, according to a report from Miller Samuel and Douglas Elliman.
