The recent slowdown in the Manhattan sales market is on the way out. Despite the fact that sales have been way down in the past two financial quarters, buyers of luxury apartments in Manhattan signed 871 contracts in February. This strong showing exceeds pre-Lehman market activity in 2008, and it shows just how far we’ve come – at the nadir of the sales market in February 2009, only 484 signings took place. Even more impressive: a severe decline of supply in luxury condos and co-ops has done very little to deter activity. Supply dropped from 7,346 units-for-sale in 2011 to 6,738 in 2012, yet 2012 saw more signings. In other words, luxury apartments for sale in Manhattan are more popular than ever before, especially on the higher end of the market and more popular Manhattan neighborhoods.