Manhattan’s luxury residential market surged in Q1, with nearly 30% more high-end co-op and condo sales compared to last year, totaling 250 deals. The average luxury sale price jumped 37% to a record $10.3 million. Despite high mortgage rates, cash buyers dominated the top 10% of sales. A $60 million off-market deal at 150 Charles Street set a new Downtown record. Inventory in the luxury sector dropped 24% as new listings lagged rising demand. Meanwhile, the broader market also saw gains: sales climbed 29% and average prices rose 21% to $2.2 million, signaling increased urgency among buyers.
Manhattan’s luxury residential market
