After a lethargic 3rd Quarter the $4 million and over Manhattan luxury real estate market just hit its fifth straight week of a strong number of sales. There were 23 signed contracts last week. Condos outpaced co-ops 16 to 6. Downtown led the market with 10 contracts and the East Side was second with 6.
Last week saw 23 luxury real estate sales vs 22 the week prior.
- Weekly Sales Volume Total was $156,815,000 versus $163,340,000 prior week
- Average asking price was $6,818,043 the prior week.
- The average number of days on the market was 377 versus 525 days 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 6% versus 14% the prior week.
- The Number 1 signed contract was a new development condo at 737 Park Avenue #17E asking $13,590,000
- The Number 2 signed contract was at resale condo at 320 West 12th Street #3W asking $12 million that sold in just 3 weeks. It sold for $8,909,687 in 2013.