The 2021 Manhattan Luxury Market Has Best Year On Record

West Village

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]

Manhattan Luxury Contracts Double In 2021 Vs. 2020

432 Park Avenue
432 Park Avenue

For the seven days through Sunday October 3, there was 22 signed contracts in Manhattan for homes priced for $4 million or above. The aggregate list value was $163.15 million comprised of 14 condos, 4 co-ops and 4 townhouses. There have been 1,329 signed contracts for luxury homes in the first three quarters of  2021, more than twice the amount of the yearly total in 2020, and 42% more than 2019. [Mansion Global]