Manhattan Annual 2021 Market Review - December 24, 2021
2021 Year-End Report Manhattan Luxury Market Update The Luxury Market was on fire in 2021! 1,877 Contracts were signed at $4 million and above, totaling $15,912,375,308 which is a record-shattering number going back to the early 2000s. It is almost three times the number of transactions in 2020 and double the number in 2019. The totals for signed contracts and overall volume are about 30% higher than the highest years of 2013-2015. The biggest pandemic trend was to go for bigger places! Size was very important more than ever! In 2020-2021, the average size of Lux condo deals was larger than 2,900 square feet, which is about 5% larger than the previous 7 years. Size was very important in townhouses as well. There were 212 contracts signed in 2021. Way more than the record of 153 transactions in 2014. The $10M and higher lux property market had 400 contracts signed in 2021, which is extremely higher than the record 270 transactions in 2014. The majority of these properties had over
