Manhattan's Glut of One-Bedroom Apartments

The New York Times reports:

OWNERS of one-bedroom apartments in Manhattan may be surprised if they put their homes up for sale anytime soon.

Price appreciation for one-bedrooms — long a bastion for singles and newly married couples who want to stay in Manhattan and live close to work — is sluggish compared with other types of apartments.

Buyers, many of whom are having difficulties getting mortgages, are unwilling or unable to pay the prices sellers still expect. And by one estimate one-bedrooms have been taking nearly three weeks longer to sell than bigger, or smaller, apartments.