Slowing growth in sale prices and longer days on the market are the key themes that characterize the Brooklyn and Manhattan real estate markets in July. The sales markets in both boroughs are settling back into a 2012 state, which is much calmer in comparison to the frenzied pace of the past three years. Though prices are still climbing, sellers will need to continue to level expectations amid a less competitive market, while buyers have the opportunity to negotiate asking prices down even further amid slowing price growth and homes spending more time on the market.
