LUXURY MARKET REPORT
October 15-21, 2018
Seventeen contracts were signed last week at $4 million and above, a dip below the 20-plus benchmark totals that were registered in the previous 2 weeks. Condos outsold co-ops, 13 to 1, and 1 townhouse was sold. The average days on the market was a worrisome 506.

Stat Geek Alert: Urbandigs.com reported that in the overall Manhattan residential market, September contracts were down 14.6% over September 2017’s totals. It also reported that September contracts plummeted 19% from August, an alarming one-month decline. (Urbandigs.com pulls its data from the Real Estate Board of New York Listing Service.) At the end of last week, it also showed 7,077 listings in the Manhattan market, the highest inventory since 2011.

The No. 1 contract was the Penthouse at 1120 Park Avenue, asking $25 million. This prewar triplex co-op spans the 20th thru 22nd floors, and has 5 bedrooms, 5.5 ...

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