The luxury property market in Manhattan put on a strong performance in 2024, and the sector is forecasted to maintain its positive momentum this year, according to new reports. The Big Apple made an epic comeback in the fourth quarter to beat the odds, including a polarizing presidential election, high interest rates, and low inventory levels. In fact, many of the New York City borough’s best real estate market moments happened in the final months of the year. For example, there was a whopping 58.3 percent uptick in sales of properties in the $20 million and above price category, Compass noted in its Q4 report. In addition, deals worth $5 million and above accounted for 10.4 percent of all the contracts signed that quarter. At the same time, the average price of contracts set a new record for Q4, jumping a staggering 20.6 percent to $2.48 million, or $1,677 per..
