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Market Analysis

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Broker-blogger Malcolm Carter dives into the mass of statistics in the Manhattan broker database to look at just how many sellers are turning to PriceChoppage as the summer wanes. Answer: lots! Nearly 1,000 listings had their prices cut between late June and late July, and the average price per square foot for co-ops and condos is down to $988: "Those who must sell...are coming to grips with current conditions and are, in all likelihood, hoping to catch in their bare hands the knife of what could be a falling market." Sounds painful! []