Last week in the luxury $4 million and over market there were only 12 signed contracts compared to the 24 signed contracts the same week in 2017.
Top Weekly Sales and Stats
- Weekly Sales Volume Total was $119,035,000 versus $77,885,000 prior week.
- Average asking price was $9,919,583 versus $6,490,417 the prior week.
- The average number of days on the market was 388 versus 371 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 4% versus 8% the same as the prior week.
- The Number 1 signed contract was a townhouse at 1083 Fifth Avenue asking $29.5 million
- The Number 2 signed contract at a new development 160 Leroy Street North 14B asking $21 million up from Jan 2016 when listed by the developer for $19.5 million.
Watch my Q4 Manhattan Market Report to see how 2017 wrapped up.