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

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Manhattan Luxury Real Estate Report – March 6th

The Manhattan luxury $4 million and over market continues its strength for the fifth consecutive week! There were 27 contracts signed last week! Looks like we are going to have a very busy luxury market this spring! Condos outpaced co-ops 17 to 6. Wow! For the first time downtown did not lead the market. It was the West Side followed by downtown.

Here is the breakdown according to regions:

East West Midtown Downtown Totals
Co-ops 3 0 0 3 6
Condos 2 9 2 4 17
Townhouses 0 2 0 1 4
Totals 5 11 2 8                       27
  • Weekly Sales Volume Total was $237,912,000 versus $204,794,000 the prior week
  • Average asking price was $8,811,556 versus $7,061,862 the prior week.
  • The average number of days on the market was 366 versus 377 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 10% the same as the prior week.
  • The Number 1 signed contract was a condo at 432 Park Avenue #PH#94B asking $40.5 million.
  • The Number 2 signed contract a townhouse at 9 East 82nd Street asking $17.5 million and sold Fast. Just listed in January.

Top Manhattan Luxury Real Estate Sales and Stats

With the industry celebrating it’s fifth winning week in a row, let’s look at how sales broke down across Manhattan.

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