Sales soften in the NYC luxury real estate market

  • Many New York City residential experts observed the overcrowding of the high-priced market.
  • Although moderate residential properties in Manhattan have shown value appreciation, steep properties experienced seven consecutive months of decline.
  • Luxury bidding wars have decreased, and residential sales and rentals have decelerated.

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

Manhattan and New York City possess some of the priciest housing averages in the U.S., and the market is a haven for the premium development crowd. But now, even for the ultra-luxury niche, supply seems to be outpacing demand.