The $4M and over Manhattan residential market continues its hot streak for the third week in a row! 32 contracts were signed last week the same number the prior week. Condos outnumbered co-ops 24 to 7. Downtown lead the market with 16 and the East Side was in second place with 6. The number of signed contracts for May was 123 which is right up there with the Mays of 2015 & 2016!
Breakdown by Neighborhood
- Average asking price was $8,727,343 versus $6,078,281 the prior week.
- The average number of days on the market 504 versus 301 the prior week.
- 180 days is the normal range. Luxury real estate has been taking longer to sell.
- The average percentage of discount from origin5al asking price was 14% versus 7% the prior week.
- The Number 1 signed contract was a condo at asking $28 million 56 Leonard Street #PH55 asking $28 million
- The Number 2 signed contract was at a new development condo at 1965 Broadway #PH3BC asking $14.4M.