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

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Manhattan Luxury Real Estate Report – May 24

Luxury Real Estate Sales

Manhattan Luxury Real Estate Report 5/24

The hot luxury $4M and over Manhattan residential market continues for the second week in the row with 32 signed contracts! Condos outsold co-ops 21 to 8. Downtown lead with 19 signed contracts followed by the east side with 9.

Inside 443 Greenwich , Tribeca’s most star- studded condo! Here’s who bought at this fabulous condo conversion so far! Read More.

Here is what you need to know!

  • Total Number of Manhattan Contracts Signed $4M and over
  • 32 Signed Contracts Versus 37 Signed The Prior Week

Half of the signed contracts were below $5 million dollars demonstrating that even luxury buyers are being price sensitive. Sellers if your asking price is out of range and not compelling then that is main reason your home isn’t selling.

Sales Breakdown

Luxury Real Estate Sales by Neighborhood

Average asking price was $6,078,281 versus $7,202,784 the prior week.

The average number of days on the market versus 301 versus 413 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 20% the prior week.

The Number 1 signed contract was a condo at 155 W 11th Street # PHA asking $12,935 Million

The Number 2 signed contract was at a co-op at 14 East 90th Street # 12A asking $12M

Are you curious about the value of your Manhattan home? Contact me for my free personalized detailed pricing analysis. Correct pricing and the right strategy for your market is key for a successful sale. I am available to answer any of your real estate questions about Manhattan or the many other markets we serve.