11/20/08

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Apt. market: Life after the boom

The New York housing market garnered headlines across the nation in October. That's because the average and median sales prices for Manhattan apartments dropped, according to different third-quarter market reports, causing many to cluck that the housing boom may be over.

But, according to a report from appraisal firm Miller Samuel, the average price per square foot in a Manhattan apartment set an all-time record during the third quarter and the sales market for smaller apartments exited the summer generally strong even as the luxury market slipped noticeably. Where, then, is the New York City residential market heading?

Housing boom's death greatly exaggerated somewhat

A low point for high-end apartments

A storyline is born

Outer-borough markets strike cooler note for autumn