LUXURY MARKET REPORT
September 17-23, 2018
Eighteen contracts were signed last week at $4 million and above, an almost identical total to last year’s Yom Kippur week when 17 contracts were signed.

Last week also marked the end of this report’s third quarter, in which 233 contracts were signed, up from last year’s 206, an increase that was fueled by discounts in developer sales. The average days on the market was 450, down from 472 in 2017. Properties on average reduced their asking prices by 8% off the original asking price before they went to contract, on par with last year.

For the sixth time this year, the No.1 contract was at 432 Park Avenue. This time, it was 68B, asking $29.2 million, reduced from $30.9 million when it went on the market in July 2017. The seller paid $27,125,425 for the unit in September 2016. Boasting panoramic city and Central Park views, ...

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