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 4,300 square feet. 

Negotiability changed significantly as the year went on, shrinking the difference between asking prices and closed prices. 


WOULD YOU LIKE TO KNOW MORE? PLEASE CONTACT US! IT IS OUR PLEASURE TO ASSIST YOU! THANK YOU! 

Fernando & Team

Fernando Branco, GRI, ABR, CNE
PRINCIPAL BROKER
Residential Real Estate
Commercial Sales & Leasing 
Graduate Realtor Institute (GRI) 
Accredited Buyer Representative (ABR) 
Certified Negotiator Expert (CNE)

162 Huntington St, Ste 1R, Brooklyn, NY 11231
c: (212) 321-0115
Working by referral. Let us help you find a home too!!

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