Here's why NYC has become a buyer's market, in the throes of a housing trend last seen in 2009.
"While few sellers struck deals at those radically reduced offer prices, they signal a major shift in our marketplace, one which has been building for at least 18 months," Peters said.
According to Warburg data, homes listed at $1 million or more are spending over 100 days on the market. Those listed between $8 million and $12 million are spending an average of 175 days on the market.
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