In Manhattan during 2021, there were 1,877 sales of properties priced at $4 million or above. The number of transactions was a 300% increase from 2020 and twice as much as 2019. The 2021 luxury sales volume was $15.9 billion. These totals are the highest on record since 2006 when the data collection began. The average price for a luxury residence in Manhattan was $8.5 million this year compared to $7.9 million in 2020.
There were 400 contracts signed for residences priced at $10 million or above in Manhattan during 2021, far surpassing the previous record of 270, set in 2014. [Mansion Global]
In Manhattan, for the seven days through Sunday November 14, there were 60 contracts signed for homes priced at $4 million or above. The aggregate deal volume was $553.9 million, the highest total in 2021. [Mansion Global]
During the past decade, branded residential developments have grown 230% to 580 projects. In the next 5 years, this global real estate sector is expected to exceed 900 projects. Currently in 2021, The Ritz-Carlton, Four Seasons and Yoo Inspired by Starck have the most share of the branded residential market and Dubai, Miami and New York are the most active cities. [Mansion Global]