NEW YORK, NY October 03, 2008 —As the rest of the country saw falling housing prices, Manhattan's kept going up. Not anymore. Real estate prices are starting to flatten, according to reports by three big real estate firms. WNYC's Lisa Chow reports.

REPORTER: The price of a typical apartment this summer was $910,000, according to Brown Harris Stevens.

That's down seven percent from the spring.

Gregory Heym is the real estate firm's chief economist.

HEYM: Now we're starting a little bit of softening in prices in some areas, but we're coming off of record highs, so it doesn't necessarily mean we're in some kind of prolonged decline just yet.

REPORTER: Although, some big problems are likely to hit next year.

Analysts expect more layoffs on Wall Street and because these are higher paying jobs, there's reason for concern.

The typical two-bedroom apartment in Manhattan still isn't cheap.

It sold for just over $1.5 million down from $1.65 million last year, according to the appraisal firm Miller Samuel. For WNYC, I'm Lisa Chow.