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For the first time since the beginning of 2022, the Manhattan luxury real estate market experienced a decline in sales during the first weeks of February.
According to the Olshan Realty report, a New York-based real estate agency, the number of contracts signed for $4 million or more decreased in the second week of February. The report lists 30 contracts signed for homes selling for at least $4 million, down 10 from the week of February 7.
However, this drop in sales must be qualified. During the week of February 7, the number of contracts was lower than the previous period, but some increases are still noteworthy. There were eight home sales in the first two weeks of February, three more than in January.
“They got off to a slow start in January, and now they’re just catching up to the market,” said Donna Olshan, president of Olshan Realty and author of the report, about home sales in the New York market.
18 condos, eight co-ops and four houses were acquired during this second week of February, bringing the total volume of these sales to $245.34 million, or approximately 216.19 million euros. This is a significant drop, as the Manhattan luxury real estate market recorded total sales of $300.24 million (€264.56 million) in the first week of February, a drop of nearly $55 million.
“The first week of February was fantastic. It’s not as strong but it still shows the stability of the market,” said Donna Olshan.
The most expensive sale last week was a one-storey condo at 23 East 22nd St. in the Flatiron District for $17 million.
Lire aussi > LUXURY REAL ESTATE OFFERS IN MANHATTAN EXPLODED IN JANUARY 2022
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For the first time since the beginning of 2022, the Manhattan luxury real estate market experienced a decline in sales during the first weeks of February.
According to the Olshan Realty report, a New York-based real estate agency, the number of contracts signed for $4 million or more decreased in the second week of February. The report lists 30 contracts signed for homes selling for at least $4 million, down 10 from the week of February 7.
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For the first time since the beginning of 2022, the Manhattan luxury real estate market experienced a decline in sales during the first weeks of February.
According to the Olshan Realty report, a New York-based real estate agency, the number of contracts signed for $4 million or more decreased in the second week of February. The report lists 30 contracts signed for homes selling for at least $4 million, down 10 from the week of February 7.
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