Manhattan Luxury Market Report

Manhattan’s luxury market is defined as the highest priced 10% of all co-op and condo sales. Pricing in the luxury market increased over both Second Quarter 2011 and Third Quarter 2010.

At $4.25 million, luxury median price increased 9% from last quarter and 4% from a year ago. At $1,947, average price per square foot increased 6% from last quarter and 8% from a year ago.

This positive growth was bolstered most notably by a pair of sales at or just over $30 million on Columbus Circle and Central Park South


Market-share by price category has remained relatively unchanged over the past year. Sales under $1 million accounted for 59% market-share in Third Quarter 2011. Sales in the $1 million to $2 million range saw a slight contraction and there was a slight expansion of sales over $5 million compared to a year ago.