Volume in Manhattan’s luxury market fell to a three-year low last week, and activity wasn’t much better. Eight contracts were signed for homes in the borough asking $4 million or more, according to Olshan Realty’s weekly report, the lowest total since the week of August 15, 2022. The homes’ combined asking prices of $45.4 million […]

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Manhattan Luxury Real Estate Market Experiences Post-Pandemic Low

Key Points

• Manhattan luxury market volume falls to a three-year low
• Only eight contracts signed for homes asking $4 million or more
• Combined asking prices of the homes totaled $45.4 million
• Lowest total since the week of August 15, 2022

Expert Insight: Jessica Fulk

Understanding the Market Shift

Real estate expert Jessica Fulk weighs in on the recent decline in Manhattan’s luxury market. “This drop in volume could be attributed to a variety of factors, such as economic uncertainty or a shift in buyer preferences. It’s essential for both buyers and sellers to stay informed about market trends and adjust their strategies accordingly.”

What This Means for Realtors and Buyers

As a realtor, Jessica Fulk emphasizes the importance of adapting to the changing market. Realtors need to be proactive in finding new ways to market luxury homes and attract potential buyers. For those looking to purchase luxury real estate, this could be an opportunity to find a great deal on a high-end property.”

Final Thoughts

The recent decline in Manhattan’s luxury real estate market serves as a reminder of the ever-changing nature of the industry. As the market continues to evolve, it’s crucial for realtors, buyers, and sellers to stay informed and adapt their strategies to ensure success. With expert insight from Jessica Fulk, those involved in the luxury real estate market can better navigate these changes and make informed decisions.

Manhattan Luxury Real Estate Market Experiences Post-Pandemic Low

Orginal article: Link To Article – provided by Kansas City Realtors