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Manhattan Luxury Real Estate Report – September 10

Last week marked the strongest post Labor Day week in the Manhattan $4M+ market in 12 years! With 20 signed contracts, condos outpaced co-ops 15 to 4. No surprise, downtown led the market again. What’s behind these numbers? Well, half of the signed contracts were new developments.

Selling Your Home This Fall?

Thinking of selling your home this fall? Take a hint from these new developers, who are offering attractive discounts and offers to get their units sold. Price your home at or just below market value and make sure to hire a broker with a strong background in marketing properties.

Top Manhattan Luxury Real Estate Sales and Stats

East West Midtown Downtown Totals
Co-ops 2 1 0 1 4
Condos 3 4 2 6 15
Townhouses 0 1 0 0 1
Totals 5 6 2 7               20
  •  Weekly Sales Volume Total was $152,769,999 versus $115,241,50 the prior week.
  • Average asking price was $7,638,400 versus $7,202,594versus the prior week.
  • The average number of days on the market was 472 versus 488 versus 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 was 6% versus 7% the prior week.
  • The Number 1 contract was at 71 Laight Street #PHC asking $15 Million reduced from $20 million when it went on the market in 2013.
  • Number 2 contract was a condo at 21 Astor Place #7D asking $13.5 million reduced from $17.25 million.