The long dismal slow spell in the luxury $4M and over market started in the summer and continued into early fall broke last week. There was 20 signed contracts. Condos outpaced co-ops 14 to 4. Downtown as usual is in the lead with 8 signed contracts. The biggest news is that there were 5 condos that sold for over $10 million a segment of the market that is the weakest. Let’s hope the dry spell is over!
Here is the breakdown according to neighborhood:
Top Stats for the Week
- Weekly Sales Volume Total $214,759,000 versus $113,550,000prior week
- Average asking price was $10,737,950 versus $6,679,412 the prior week.
- The average number of days on the market was 280 versus 426 versus days 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 4% versus 6% versus the
- prior week.
- The Number 1 signed contract was a new development condo a at 160 Leroy Street #PHN
- asking $51 million raised from original asking price of $48.5 million
- The Number 2 signed contract was a resale condo at 15 Central Park West #14D asking $31.5
- Million reduced from $38 million.
Celebrity Real Estate News
Jennifer Lopez Lists Her Divine Penthouse For $27 million
Celebrity Photographer’s 3 Penthouse Combo Hits The Market For $20 Million
Keith Richards Relists Greenwich Village Duplex For $12 Million
Tycoon’s Ex Seems Desperate To Sell $20 Million Manhattan Penthouse
Sales Launched At Rafael Vinoly’s New Manhattan Tower
Be sure to check out my new blog this week, Four Reasons When You Should Walk Away From A Deal. Also, check out my latest video, How To Sell A Stale Or Expired Listing.