Manhattan real estate bubble hasn't burst

Whether it was square footage or median prices, the housing bubble has not burst for Manhattan as it has for the rest of the region, according to third-quarter reports compiled separately by three big-name real estate firms. A combination of lower inventory, new condos coming onto the market and the borough's strong economy have led to a record-setting year, according to data released by The Corcoran Group, Prudential Douglas Elliman and Brown Harris Stevens. Each firm has slightly different numbers, depending on how much proprietary information they were able to obtain, but estimates on the percentage increase went up by as much as 12 percent from a year ago.