October 22, 2020 | Deanna Kory Team

September 2020 Manhattan $5M+ Report

September 2020 Manhattan $5M+ Report

September 2020: The Luxury Market’s Rebound Continues

This September, $5M+ sales, active listings, and average price per square foot all increased compared to last month and last year. 

  • Sales increased. September sales rose about 70% versus last year and last month to a seven-month high of 39 deals. While the $5M+ market is regaining strength, the annual increase was exaggerated by a weak September 2019 following the July 2019 tax hike.

  • The surge in active listings continued. Active listings over $5M increased by double-digits for the eighth consecutive month and reached their highest September total in at least ten years.

  • Days on market, higher than last year, fell versus last month. This was the second month in a row that a monthly improvement in sales corresponded with a monthly decline in days on market.

  • Pricing driven higher by penthouse sales. At $2,944, average price per square foot was 4% higher than September 2019 and 21% higher than August. Pricing was driven higher by an increase in contracts signed on penthouses featuring large outdoor spaces.
Read the full report here.

Similar Articles We’ve Recently Published

View all posts

Work With Us

Our team is skilled in providing extensive analysis in a sophisticated and complex real estate market. From understanding net profit, capital gains, to detailed comparable evaluations, we offer the knowledge, data and information our clients need to be competitive.

Follow Us