By JOSH BARBANEL
The number of apartments listed for sale in Manhattan shrunk to the lowest level in seven years, creating yet another challenge for would-be buyers, market reports say.
Brokers said the new supply hurdle for buyers could lead to higher sale prices in the months ahead and has already triggered a frenzy of bidding wars in the past few months, as sales surged and few new apartments came on the market.
Residential buildings on the Upper East
Side.
When Amanda Sawyer, a Corcoran Group broker, put a two-bedroom apartment on the market in Greenwich Village in June for $1.495 million, she said eight would-be buyers submitted written offers within a week.
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