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LUXURY MARKET REPORT
November 29-December 5, 2021
Thirty-four contracts were signed last week at $4 million and above, 3 fewer than the previous week---and the lowest total in 9 weeks. It’s too early to tell if last week’s worrisome stock market performance had any effect on the total. Many investors predict a turbulent stock market ahead, and we will have to wait and see if this reverberates through the luxury real estate market.

Stat Geek Alert: In the last 4 weeks, the average price drop from the original asking price to the last asking price has narrowed from 9% to 4%, while average days on the market have decreased from 575 days to 472.

The No. 1 contract was the 34th floor at 111 West 57th Street, asking $21.5 million. The condo has 4,492 square feet including 3 bedrooms, 3.5 bathrooms, and a large eat-in kitchen; a 37-foot great room and a ...

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