More choices for Manhattan homebuyers as resale supply jumps

New York

RESIDENTS who aren't necessarily millionaires are having an easier time finding an apartment to buy in Manhattan.

After years of scavenging a market dominated by new developments for ultra-wealthy investors, those who lack unlimited funds are finding more options than they've had since 2012. There were 5,362 previously owned condominiums and co-ops on the market at the end of June, a 25 per cent jump from a year earlier, according to a report on Friday by appraiser Miller Samuel Inc and brokerage Douglas Elliman Real Estate.

Rising inventory is helping to level the playing field for buyers and sellers after years of bidding wars fuelled by historically low supply, especially for homes of le…