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Sales keep NYC housing market hotter than ever

Traditionally, the fall is the start of real estate’s busy season, where brokers — well-rested from a summer in Sagaponack — are champing at the bit, ready to unveil the next big thing.
But it’s almost as if summer never even began. A busy spring just kept going and going. “There was no rest for the weary this summer,” says Wendy Maitland, managing director of Town.
According to Corcoran Sunshine, 3,400 contracts were signed in Manhattan in the third quarter of 2013 — a 17 percent jump from last year. And the second quarter was even better. The second “quarter there were $7.6 billion in sales,” says Kelly Mack, president of Corcoran Sunshine. “That was the second highest ever.”
And one can only expect it to get busier. “So far in 2013, we’ve seen 1,660 new development units enter the market,” says Mack. “We’re projecting another 1,000 by the end of the year.”

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