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

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Manhattan Luxury Real Estate Report – September 5

The Manhattan $4 million and over luxury market saw 12 signed contracts last week. It was the tenth straight week in the row that the market saw under 20 signed contracts. It was also the weakest week of the year. There were 3 townhouse sales. There was only one co-op sale. The last time that happened was last January. September will tell us if the market was just suffering from a case of summer doldrums. Read More

In this week’s blog I share my tips for how to get a best buy on a Manhattan home. That said with the market being in the doldrums for the past 10 weeks , the average time on market being 362 days and the average discount rate being 11% the market is ripe for you to find some “best buys”.

Stay tuned for my new videos coming soon! A Guide For Buyers, A Guide For Sellers, How To Sell A Stale Or Expired Listing and How To Get A Best Buy In Manhattan.


Tennis star John McEnroe sells Hamptons estate.

Former Abercrombie & Fitch CEO Lists Cool Townhouse In Sutton Square

Emily Blunt & John Krasinski List Historic Townhouse In Park Slope

Jay Z and Beyonce Put A Bid In For $120 Million On A Beverly Hills House


Manhattan Downtown Mega Mansion Could Fetch $75 million!


Weekly Sales Volume Total – $79,994,000 versus $100,065,000 prior week

East West Midtown Downtown Totals
Co-ops 1 0 0 0 1
Condos 0 1 1 6 8
Townhouses 1 0 0 2 3
Totals 2 1 1 8                         12
  • Average asking price was $6,666,167 versus $6,671,000 the prior week.
  • The average number of days on the market was 362 versus 402 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 11% versus 4% the same as the prior week.
  • The Number 1 signed contract was a townhouse at 26 Bank Street asking $19.5 million reduced from $26 million.
  • The Number 2 signed contract at a townhouse at 417 East 84th Street asking $9 million reduced from $9,999,999.

Curious what your home value is? Contact me for an evaluation.