Manhattan Luxury Reality Check | April 21

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What is the state of Manhattan's Luxury Market?

Hello, I'm Riccardo Ravasini from Rava Realty.

http://newyork.ravarealty.com

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Manhattan Real Estate Luxury Update is a video report about Manhattan’s Real Estate Luxury Market, with analysis of the trends and market movements of the most famous borough of New York City.

In This video we are going to talk about: April 2021

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See you soon on the next video of Rava Realty’s Manhattan Real Estate Luxury Update.

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Here we are with the reality check on the Manhattan Luxury Real Estate Market. Every week we hear of multi million dollar properties going on the market and sometimes the asking price seems exorbitant, because it is!
With this report we are going to tell you at what prices luxury properties are actually closing and what was their actual negotiability factor...anybody interested in getting a discount? ...so....here we go:

There were 126 closing at $4 million and above in April 2021, 54 more than the previous month. The Average Closing Price was $8,292,123 up 16.7% from the previous month, meanwhile the Median Closing Price was $6,145,000 up 4.8% from the previous month, the Negotiability Factor, that is the average discount from the last asking price, was 11.91% down from 15.04% of the previous month. The pace of the market was a little faster, since the Average Days On Market were 203 compared to 219 for the properties that closed in March 2021.

If you want to take a peek at all luxury closings and our statistics you can find the link here below.

https://docs.google.com/spreadsheets/d/1BlgOf29HOCpRzX5FS31SELXFTI7WqvTHdH6TsqKJa6U/edit?usp=sharing
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