Slow January for Luxury Real Estate Sales
January 31, 2018
Unfortunately, today we report a bit of negative news in the NYC luxury market.
According to Olshan Realty's Market Report, January 2018 was the slowest on Record since 2012, as reported by the Real Deal.
There were 15 contracts signed at $4 million and above last week, ending the month’s total at 68. That represents a 29 percent decline from a year ago, and the lowest total since January 2012, a month that saw just 40 luxury deals inked.
Extreme weather as well as uncertainty regarding the recently passed tax reform bill are thought to be the cause of the slow month.
The Real Deal