Harlem

Links to the data weren't included- so this is likely deceptive. There were a lot of HDFC Income Restricted sales in Harlem in the last 6 months. The majority of these apartments are priced between $300k-500k, which would skew the data. If the data they were using was limited to condos and market rate co-op's then I would believe in the decline. That said, Harlem had bidding wars on the vast majority of apartments priced below $1 million.

Also, http://www.nytimes.com/2016/10/16/realestate/is-the-market-for-new-york-apartments-softening.html

Yeah exactly my point, most of the sub $1 million properties in Harlem are still red hot. The article only mentions the $500k properties, and then jumps up to show a hint of weakness at the $2 million level, though the $1 millon properties and below are just as crazed as the $500k properties. Inventory is ridiculously low, so even if the higher end slowed down from 90 miles per hour, down to 60 miles per hour- the reduction in speed makes it feel like you are crawling, though the reality is that you are still speeding.