Monica Ahdoot at Corcoran Group

Investors scooped up close to 15% of homes sold in first quarter—‘a bigger piece of the pie than in any other’

https://fortune.com/2024/07/11/housing-market-investors-home-buying-record/?utm_source=search&utm_medium=advanced_search&utm_campaign=search_link_clicks

America’s upper echelon is getting richer, and the rising tide is bringing nine-figure residential deals back to Manhattan.
Since the start of the year, the borough has notched two sales above $100 million, marking the first transactions to exceed the threshold since 2022, public records show.

Deals over $100M are back in NYC Manhattan has notched two sales above $100M so far this year, marking the first transactions to exceed the threshold since 2022.

The market over $5M in Manhattan shows signs of life in June.

Manhattan’s deepest-pocketed home buyers had a busy second quarter, with a growing number of deals made on luxury properties

New York’s Wealthy Were Busy Buying Homes This Spring Sales of properties $10 million and up surged in the second quarter

In surprise, Manhattan home sales rebound
Sales increased for the first time in seven quarters, financed deals on the rise

https://therealdeal.com/new-york/2024/07/03/manhattan-residential-market-reports-q2-turnaround/

Manhattan's second quarter wrapped up on a promising note, with slight increases in both supply and demand compared to last year. As we close out the first half of the year, attractive prices are drawing in buyers. Savvy sellers have adjusted their expectations by offering more value, and buyers are responding enthusiastically.

For the first time since rising mortgage rates upended the market in mid-2022, Manhattan closings and contracts improved on a quarterly and annual basis. The number of sales rose about 1% annually and 34% quarterly to about 3,150 closings.

After nearly two years of falling inventory, listed inventory in Manhattan is slowly climbing too. Active listings rose for the second consecutive quarter, up 3% annually to 7,539 units, just above the ten-year average.

Manhattan prices fell across-the-board for a second consecutive quarter, which hasn’t happened in seven years. More significantly, average price per square foot fell annually by double-digits for a second straight quarter, down 10% to $1,671, similar to figures last consistently seen in 2015.

Manhattan Real Estate Market Report: 2Q 2024 Manhattan's second quarter wrapped up on a promising note, with annual increases in both supply and demand.

More homes asking at least $10 million found buyers than at any point this year in the seven days ending Sunday.
Amid another strong week for the borough’s luxury home sales, high-end properties above $10 million had their best week since last summer.

Big Spenders Were Buying Manhattan Real Estate Last Week More homes asking at least $10 million found buyers than at any point this year in the seven days ending Sunday

It is officially a buyer's market.

Manhattan Real Estate Market Report: 1Q 2024 Though the start of 2024 showed mixed results, there are some signs that the market is improving.

During the week ending Sunday, 40 contracts were signed on homes asking $4 million or more in the New York City borough. It marks the first time this year that the number of deals in a given week has surpassed 30, and it’s the highest total since May of last year.

Manhattan’s Luxury Housing Market Logs Best Week Since May A 7,000-square-foot condo asking $46.75 million on the Upper West Side was the most expensive deal inked last week

Another year, another win! Corcoran reigns supreme as The Real Deal's top residential real estate brokerage in Manhattan for the fourth consecutive year.

Manhattan recorded a decent week for luxury sales, with the most expensive home getting a price increase rather than a discount before finding a buyer.

The Most Expensive Home Sold in Manhattan Last Week Got a Price Increase Before Landing a Buyer In all, there were 22 new contracts signed on homes asking $4 million or more in the New York City borough

There were 25 contracts signed on homes asking $4 million or more in the seven days ending Sunday.

Manhattan’s Luxury Housing Logs Best Week in Nearly Four Months Buyers signed contracts on 25 homes asking $4 million or more

Manhattan’s luxury-home market had a stellar end to 2023, according to an array of reports released Wednesday from New York City’s major brokerages.
https://www.mansionglobal.com/articles/manhattans-trophy-home-market-ended-2023-with-a-bang-b30d9988?mod=top_markets_new_york

Following the usual cooldown Thanksgiving week brings, Manhattan’s luxury home market recovered last week with 17 signed contracts for $4 million or more, an increase of five.

Manhattan’s Luxury Market Bounces Back From Thanksgiving Week Slowdown Seventeen contracts were inked for $4 million or more last week

Manhattan’s Luxury Market Holds Steady, With 20 Deals Inked Last Week Though the number of signed contracts was down, the weekly sales volume got a small bump

Manhattan’s Median Home Price Rose 2% Despite Market Turbulence The median price stood at $1.175 million in the third quarter, while luxury home prices increase more than 4%

• Signs of the market normalizing emerged during the second quarter of 2023.
• Market wide closings rebounded 48% quarter-over-quarter, yet declined 23% from
• Median price declined for the fourth consecutive quarter due to an expanding share of sales of homes priced under $2M.

Manhattan Real Estate Market Report: 2Q 2023 The second quarter of 2023 brought renewed balance to the Manhattan real estate market.

Manhattan’s luxury housing market seems to be operating in a world of its own, bucking the national slowdown in sales amid short supply and higher mortgage rates.
For five consecutive weeks, the New York City borough has recorded 30 or more contracts signed for homes asking $4 million or more. That’s a very healthy weekly sales pace and puts Manhattan on track to log its second-best June since at least 2006.

Manhattan’s luxury housing market seems to be operating in a world of its own, bucking the national slowdown in sales amid short supply and higher mortgage rates.
For five consecutive weeks, the New York City borough has recorded 30 or more contracts signed for homes asking $4 million or more. That’s a very healthy weekly sales pace and puts Manhattan on track to log its second-best June since at least 2006.

Manhattan’s Luxury Market on Track for Second-Best June on Record A trophy home off the High Line in Chelsea topped the biggest deals last week and is the priciest to go into contract downtown this year

High end luxury is the name of the game.
Manhattan’s Luxury Co-op Market Had the Best Week in a Year
New contracts for homes in the New York borough asking $4 million or more have rallied over the past few weeks.

Looking for a pied-a-terre in Manhattan? who isn't?
Contact me for the best properties in the city.

Upscale Buyers Turning To Luxe Turnkey Residences Anecdotal evidence suggests upscale buyers are as interested in big city pieds-a-terre after the pandemic as they were before Covid’s arrival.

There were 30 luxury contracts signed in Manhattan during the week ending Sunday, marking only the seventh time 30 or more high-end home deals have been inked in a single week this year.

Manhattan’s Luxury Home Market Recorded 30 Signed Contracts Last Week It was a robust week for listings asking $4 million or more, though deal making is still far below last year’s levels

The Manhattan luxury market brought in its highest weekly volume in 12 months, with 27 signed contracts resulting in an asking price sales volume of $284.79 million for the week.
The two priciest contracts signed last week were both asking more than $25 million.

‘Trophy Home’ Deals Give Manhattan Its Highest Sales Volume in a Year The two priciest contracts signed last week were both asking more than $25 million, one of which is Chinese billionaire Zhang Xin’s townhouse

When it comes to selling top-tier single-family homes in NYC, Corcoran outranks the rest! According to The Real Deal we are the number one agency for single-family home sales over $5 million in 2022!

Can you think of a better place to see real estate in?

New York is still the world's wealthiest city But the Bay Area boasts the most billionaires

New York retained its title as the world’s top super-luxury housing market last year.
Despite rising economic headwinds and growing uncertainty, the world’s wealthy have been committing to luxury residential property.

New York Remains the World’s Top Super-Luxury Property Market London, Los Angeles, Hong Kong and Miami complete the top five in Knight Frank’s annual index

I❤️NY Residential Real Estate

Luxury at its best. Would you like to view in person?
Residents at 111 West 57th Street enjoy a porte cochere entrance, 82 foot swimming pool with private cabanas, sauna and treatment rooms, double-height fitness center, private dining room and chef's catering kitchen, residents' lounge with expansive terrace, meeting rooms and a study,

List in March to sell the fastest and get the highest price as per StreetEasy analysis
January and February search activity indicates buyers are getting ready for spring

When is the best time of year to buy or sell a NYC apartment? Real Estate. Real Life. Real New York.

Contact me for best investment property opportunities in New York.
With 43 million families living in apartments, the highest level in half a century, renting is popular even among high earners who are able to buy, but prefer to rent their home instead.

Millionaire Renters Have Tripled Since 2015 A newly published report about high earners and millionaire renters indicates that the American household is changing. With 43 million families living in apartments, the highest level in half a century, renting is popular even among high earners who are able to buy.