The number of apartments that went into contract or had accepted offers in Manhattan in October fell 20 percent from September, and declined 62 percent compared to October 2007, according to the Corcoran Group. The number of listings in Manhattan rose 33 percent in October compared to the same time last year, according to Miller Samuel. Jonathan Miller, president of Miller Samuel, said because of the lag time between contract signings and apartment closings, about 45 days, sales figures won't reflect the price decline in the market until the first quarter of next year.
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