The $4M and over Manhattan luxury real estate market soared to record February highs going back as far as 2006! 34 contracts were signed. What you need to know is that 50% of the contracts were in the lower luxury range of $4M to $5.5M. Downtown led with 14 signed contracts and condos led with 23 contracts versus 9 co-op contracts.
Total Number of Manhattan luxury real estate Contracts Signed $4M and over.
Average asking price was $6,257,941 versus $7,737,692 the prior week.
The average number of days on the market was 352 versus 410 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 7% versus 2% the week prior.
The Number 1 signed contract was at the Beresford Co-op 211 Central Park West # 10A & 10B asking $7.495M & $6.150M for a total of $13.645 million
The Number 2 signed contract was at Walker Tower 212 West 18th St # 18D asking $11.495M very close to the $11,437,500 in sold for in 2014. It was listed originally at $15.65 million.
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My mission in 2017 is provide Pulse readers with the most valuable and interesting content on Manhattan real estate, the market & lifestyle. I have started with re-branding the appearance and format of The Pulse. Let me know how you like the new look! Next week I will be adding real estate and lifestyle articles.