The $4M and over Manhattan luxury real estate market dipped to normal levels to 24 versus the record breaking 34 number of the week prior. Condos soared over co-ops 19 versus 4. Downtown led again with 50% of the 24 signed contracts.
Here is the breakdown of luxury real estate contracts according to regions:
Average asking price was $7,748,541 versus $6,257,941 the prior week.
The average number of days on the market was 461 versus 352 the prior week.
180 days is the normal range. Luxury real estate has been taking longer to sell.
The average percentage of discount from original asking price was the same 7% as the prior week.
The Number 1 signed contract was at Madison Square Park Tower at 45 E 22nd St Floor 62 asking $24.95M.
The Number 2 signed contract was at 443 Greenwich Street #5A asking $15M
Here’s what you need to know!
Every segment of the market is its own micro-market. It is very important that if you are thinking of selling or buying that you get a detailed pricing analysis and be able to interpret the data.
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