Luxury4M+ contracts skyrocket first week of feb

Very interesting. I assume no info on the actual prices v. asking prices yet, right? I can imagine lots of reasons for this volume, many of which could cut in different directions.

Well yes one can imagine anything but the most likely reason is that demand is strong and there is confidence in future price appreciation.

That certainly could be, although I can imagine a variety of other factors too. I do agree that it is more likely than not a positive sign for prices and the market, but some other possibilities:

1) This is a one-off and irrelevant unless sustained over a longer period (i.e., neutral/irrelevant)

2) Lots of price cuts and these Sellers were anxious to move the properties (i.e., tough to say what that would mean for the long-term; not really positive or negative until it occurs over a trend because it could be particular to this small group of transactions, and then it could cut in either direction).

3) Concerns over other investment alternatives driving investors to RE (i.e., mixed impact - could suggest a continued positive impact on pricing)

"Demand is strong".

And wall streeters, who generally had strong a strong last year got paid their bonuses and are now committing to things they looked at over the late fall / early winter.

More than the bonuses, which were ok, it the vesting of stock which is up 20-30 percent in the last few months. I still remain bearish in greater than 2500k per sq ft properties priced above 5mm.

Yes excellent point 300_mercer...the correlation between the equity markets and real estate demand is undeniable.

The article starts off with "After a lull in January", but I seem to remember a similar article about sales in the first eek of January?