CNBC: New York Luxury Real Estate up 15% in 2010


Warning: Illegal string offset 'before_widget' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 769

Warning: Illegal string offset 'after_widget' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 771

Warning: Illegal string offset 'before_title' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 773

Warning: Illegal string offset 'after_title' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 775

Warning: Illegal string offset 'before_widget' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 769

Warning: Illegal string offset 'after_widget' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 771

Warning: Illegal string offset 'before_title' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 773

Warning: Illegal string offset 'after_title' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 775

Warning: Illegal string offset 'before_widget' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 769

Warning: Illegal string offset 'after_widget' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 771

Warning: Illegal string offset 'before_title' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 773

Warning: Illegal string offset 'after_title' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 775

Warning: Illegal string offset 'before_widget' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 769

Warning: Illegal string offset 'after_widget' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 771

Warning: Illegal string offset 'before_title' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 773

Warning: Illegal string offset 'after_title' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 775

Warning: Illegal string offset 'before_widget' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 769

Warning: Illegal string offset 'after_widget' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 771

Warning: Illegal string offset 'before_title' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 773

Warning: Illegal string offset 'after_title' in /nfs/c07/h02/mnt/98311/domains/thesargentreport.com/html/wp-content/plugins/mycustomwidget/my_custom_widget_functions.php on line 775

In this video clip, Diana Olick of CNBC and Jonathan Miller discuss the rise in the Manhattan Luxury Real Estate Market, as defined by the top 10% of sales (above $4M most recently). Median prices were up 15% year over year.

Visit msnbc.com for breaking news, world news, and news about the economy

Some of the commentary, however was not completely on the mark: Diana mentions that year over year volume was up and attributes it in part to the Homebuyer Tax Credit. For the overall market while that had some impact, it had little impact on the luxury sector. 4th Quarter 2009 marked the ‘turnaround’ quarter for the $2 Million plus property sales with a sharp rise in sales between October and December 2009, a resulting decline in inventory. In Manhattan’s Luxury Real Estate sector, 2010 proved to be a boon. It was perhaps aided in part by stabilization in the stock markets. Additionally national and international High Net Worth Individuals displayed high confidence in New York trophy properties, snapping up second homes, investment opportunities while achieving value buys at the same time. Even with the increase, the super high end (greater than $30 Million) still was behind the 2006/2007 peaks in volume and price.

Leave Your Response

* Name, Email, Comment are Required

 

Buying, Selling, Renting

Market Update

New York Luxury Real Estate: Why Manhattan’s $10M+ Market Offers Huge Buyer Opportunity

Posted on February 1, 2019

Other Market Updates

Archives

Follow Me on Instagram

Follow Me on Twitter

Follow Me on Facebook