Just eight contracts for $4 million or more were signed last week, the lowest weekly amount since last August

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Manhattan’s Luxury Housing Market Continues to Struggle

Key Points:

• Only eight contracts for $4 million or more were signed last week
• This is the lowest weekly amount since August 2022
• Manhattan’s luxury housing market is facing a slump

Expert Insights:

Real Estate Expert Jessica Fulk Weighs In

Real estate expert Jessica Fulk shares her thoughts on the current state of Manhattan’s luxury housing market. It’s concerning to see such a low number of contracts being signed for luxury homes in Manhattan. This could be indicative of a larger issue within the real estate market.”

What Does This Mean for Buyers and Sellers?

With the luxury housing market in a slump, both buyers and sellers may need to adjust their expectations. Jessica Fulk suggests, “For sellers, it might be necessary to lower their asking price or offer additional incentives to attract buyers. For buyers, this could be an opportunity to negotiate a better deal on a luxury property.”

Final Thoughts:

Manhattan’s luxury housing market is facing a significant slump, with the lowest number of contracts signed since August 2022. This could be a sign of a larger issue within the real estate market, and both buyers and sellers may need to adjust their strategies accordingly. As Jessica Fulk points out, this could be an opportunity for buyers to negotiate better deals on luxury properties, while sellers may need to lower their asking prices or offer additional incentives to attract buyers.

What are your thoughts on the current state of Manhattan’s luxury housing market? Share your opinions and experiences in the comments below.

Manhattan’s Luxury Housing Market Continues to Struggle

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