“In 2020 we had 8.7 years of sellout, meaning it would take 8.7 years to sell all unsold Manhattan new-development condos,” he says. That is likely to drop to 7.2 years in 2021, because there’s an anticipated “decline of new product coming into the market,” Miller says. Plus, additional sales will occur as buyers are drawn by discounted pricing, he says. 

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