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The Mortgage-Pro
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Joined: 19 Jan 2005
Posts: 2248
|  Posted: Thu Feb 24, 2005 10:21 am Post subject: Manhattan Luxury Home Real Estate Sales Skyrocket |  |
| The value of luxury home sales-defined as sales of homes worth $1 million or more-soared 47% in 2004 in New York City, according to a report by Coldwell Banker Real Estate Corp.
In New York City, the value of luxury home sales climbed to $165 million in 2004, up from $112 million in 2003. The growth in sales propelled the city from 52nd on Coldwell Banker's list of top cities in luxury-home sales to 42nd.
New York state saw the sales value of such homes rise 47% as well, to $866 million in 2004 from $590 million in 2003. The value of luxury-home sales in New Jersey rose to $1.2 billion in 2004 from $929 million in 2003, a 34% increase. And Connecticut had a 57% increase in sales, to $1.3 billion in 2004 from $839 million the previous year.
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