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Manhattan Luxury Home Real Estate Sales Skyrocket

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PostPosted: Thu Feb 24, 2005 10:21 am    Post subject: Manhattan Luxury Home Real Estate Sales SkyrocketReply with quote

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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