NYC’s Luxury Market Continues Miraculous Rebound

Key Highlights

• Deals for +$4M homes soared to 2015 heights in February 2021
• Manhattan logged 30+ luxury deals in four consecutive weeks during February, according to Olshan Realty

144 Homes Asking $4M+ Totaling $1.18B in Pending Sales

What a difference a day and/or a month make.  Pending sales of Manhattan’s luxury market, defined as homes asking $4M and up, continued what many are calling a miraculous rebound during the month of February.

According to a recent report from Olshan Realty,144 homes asking $4M+ went under contract during February’s four weeks.  Pending sales totaled $1.18B, a figure not recorded since February 2015.

Diane Olshan, president of Olshan Realty, said, ”This was a luxury-wave not seen since a similar streak in 2015.”

Manhattan’s Housing Rebound Extended Beyond Lux Sector

According to Garrett Derderian, director of market intelligence with Serhant, all price points saw the strongest February for signed contracts since “at least” 2008.  A total of 2,472 contracts have been signed in Manhattan since the beginning of 2021.

Derderian said, “It was also only the second time since we (Serhant) began tracking the value of newly contracted properties surpassing $5B.  This is a remarkable recovery from 2020, and a trend we began to see emerge from the time Biden was elected in November to the announcement of the first viable vaccines for COVID.”

Thanks to The RealDeal.

URGENT: 2021 Results Released. New FREE On-Line Web Event Reveals 17 Surprising Secrets Of The Top 100 Millionaire Agents. Get Your FREE Spot For The On-Line Webinar Now. When You Attend This Event You Will Have A Sense Of Relief Knowing You Can FINALLY Laugh At Your Money Worries – If You Follow This Simple Plan. Learn How To Generate 100’s of Motivated Leads Without Coming Off As A Pushy Salesperson and Losing Your Soul. Learn Now How To Become One of the 1000s of Agents Making HUGE Money NOW Who Never Thought They Could.