The Manhattan luxury market $4 million and over saw 25 contracts signed last week. This is the sixth week straight that the luxury market saw over 20 contracts. Half of the contracts were new development. Condos outpaced co-ops 19 to 3. Downtown had 12 contracts followed by the East Side with 6 contracts. The average number o days on the market was 554 and the discount rate was 8%.
Manhattan Luxury Sales by Neighborhood
Top Sales and Statistics in the $4M+ Manhattan Luxury Market
- Weekly Sales Volume Total was $193,240,000 versus $252,899,999 versus prior week
- Average asking price was $7,729600 versus $9,032,143 the prior week.
- The average number of days on the market was 554 days versus 518 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 8% versus 11% the prior week.
- The Number 1 signed contract was at a new development at 150 Wooster Street Loft 6 asking $14.85M
- The Number 2 signed contract was a resale at 20 East 65th Street #Unit 1 asking $14.25 million. Reduced from $17.5 million. Listed in February 2017.
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Are you curious about the value of your home? Contact me for a free evaluation. Be sure to read my blog this week to understand buy a Manhattan luxury home that’s spent a long time on the market.