from the top:

We have just released the “Elliman Report: Manhattan Sales 4Q 2012,” the leading resource on the state of the Manhattan co-op and condo market.  Our market reports are produced in conjunction with Miller Samuel to provide you and your clients with the most comprehensive and neutral market insight available.

Manhattan closed out 2012 with the most fourth quarter sales in 25 years and the lowest level of inventory in more than a decade. Tax planning in advance of the “fiscal cliff,” rising rents, an improving regional economy and record low mortgage rates were some of the key reasons for increased sales in the quarter. Although housing prices remained stable through the year, the shortage of inventory could bring pressure to them in the new year.  We continue to be impressed with the depth and strength of the market and look forward to an active 2013.