According to data analyzed by the Wall Street Journal from the NYC department of finance, apartment sales in Manhattan fell to their second-lowest level in a decade in the second quarter of 2016. Only 2,281 units changed ownership, down more than 10 percent compared to the second quarter of 2015. Manhattan’s median apartment sales price actually increased by 13.7 percent over the first three months of the year to $1.12 million. “I think it is a correction, a serious correction,” Brown Harris Stevens president Hall Willkie told the Journal, adding that the U.S. presidential election and Britain’s vote to leave the E.U. could put a further damper on sales.
