Luxury apartment sales surge in Manhattan

April 7, 2011 4:02:43 AM PDT
According to the Wall Street Journal, sales of luxury apartments in Manhattan are improving.

The number of sales fell by 50 percent in 2009, but are now 23.5 percent below the peak in 2008.

Sales have picked up so much that the Stribling Private Brokerage says the next problem could be a small supply of luxury apartments.

Listings usually surge in the spring, but this year, the apartment inventory is shrinking.