Manhattan Luxury Market Heating Up

That is indeed a good week. Some of the pick up is to be expected due to spring sale season. Let us see if it continues and new condos find appropriate price level.

yes indeed 300mercer.....what about those out in the field. Would anybody care to report in on the current conditions they are seeing out there for entry to luxury?
Thanks....

Maybe it's a sign that when the PROS are not on the SE forum they are very busy with clients and market is picking up.....let's hope so.

last 4-6 weeks or so the higher price points have definitely been picking up. This is after a long lull. Deals certainly to be had in that sector. Too soon to call it a trend.

thx Noah. It's so difficult to find a place that offers "out in the field" commentary. This is the only place I know of that gives some insight. I would think that a priority for buyers and sellers would be to know if activity is picking up or slowing down. Buyers would be better off knowing about the activity pickup instead of finding out about it through "already has accepted offer" etc. Sellers would like to know about increasing/decreasing activity as well so they can reconsider that recent offer etc....

Actually, Steve, being a broker I'm on a lot of people's mailing lists and I feel like I get maybe thirty market reports/newsletters from brokers a quarter, maybe more. Some of them are more active and insightful than others, of course, but if you want "in the field" commentary, it's not hard to find.

Steve, You can always do a Streeteasy search and know listings in contract for a particular search by changing the search settings. That is better than any field info.

agree Steve.. That's one reason I put all much effort into urbandigs charts, search and data tools. Transparency is good.

Now, with that said, this market is so segmented that every building, every price point, is really it's own little marketplace

thx front....it just seems that all the reports that the media picks up on(such as the Quarterly reports) are talking about a market that was at least 3 months ago. UD has the most up to date information as far as contract activity right now which is great stuff. I'm just looking for agents/brokers etc who are in the field and start noticing any activity changes that will get us those increase/decrease contracts. Like Keith Burkhardt sometimes will come on these boards and talk about activity pickup or slowdown(what he is seeing right now). Great stuff to report on would be such items as offer activity/bidding wars/frustrated clients/happy clients/open house traffic/requested showings traffic/buyer sense of urgency/seller sense of urgency etc....signed contract activity is very important but maybe we could report more on the telltale signs that are known to generate those signed contracts. Anyhow you guys make Manhattan the real estate mecca of the world. Keep up the great work.

@noah what's the activity looking like based on the stats coming in? How about giving us some good chart p***showing year-to-date last year vs this year?

Seems like it was an outlier. Number of luxury contracts dropped by one third week on week:
https://olshan.com/marketreport.php
(And about 7.5% from same week last year).