Carol Staab
Associate Broker
Douglas Elliman
111 Fifth Avenue
New York , NY 10003

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Manhattan Luxury Real Estate Report – January 16

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

Regional Breakdown:

East West Midtown Downtown Totals
Co-ops 2 1 0 1 4
Condos 0 0 2 4 6
Townhouses 1 0 0 1 2
Totals 3 1 2 5                       12
  • 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.