Prices tumbled dramatically in Manhattan and sales volume was down by over 14% during the 3rd quarter, compared to a year ago. This decline was due to a shrinking pool of international investment buyers and a new, higher transfer tax which had people scurrying to close in the spring before it was enacted.
Posted by Jeff Mindham
Prior to becoming a full-time writer in 2015, I was the Senior President of National Marketing for Prudential Real Estate (63,000 agents & 700 franchisees), and the Chief Marketing Officer at several real estate tech startups. Those included ForSaleByOwner.com, the nation’s largest online FSBO, Foxtons and USRealty.com, among others. I began my career on Madison Ave. working at some of New York’s largest ad agencies.
I have a master’s degree from the University of San Francisco and a BA degree in Communications.
