{"id":20881,"date":"2016-03-02T09:43:33","date_gmt":"2016-03-02T13:43:33","guid":{"rendered":"http:\/\/www.propertyshark.com\/Real-Estate-Reports\/?p=20881"},"modified":"2017-10-06T04:20:29","modified_gmt":"2017-10-06T08:20:29","slug":"nyc-luxury-property-sales-drop-by-11-in-2015","status":"publish","type":"post","link":"https:\/\/www.propertyshark.com\/Real-Estate-Reports\/2016\/03\/02\/nyc-luxury-property-sales-drop-by-11-in-2015\/","title":{"rendered":"High Profile British Publication Slams NYC Luxury Market, Reports 27% Drop in Sales; Reality Widely Different"},"content":{"rendered":"

After being recently overthrown by Beijing<\/a> as the billionaire capital of the world<\/em>, New York City makes international headlines once more, this time being wrongly accused of failing to attract buyers for its trophy properties.<\/p>\n

A luxury NYC homes\u00a0has dropped considerably in 2015.\u00a0According to the publication, only 110 luxury sales ($10+ million) were recorded in 2015, down 27% from 2014.<\/p>\n

The publication \u2014 that reaches 2.2 million international readers each day \u2014 reported that only 71 sales of properties priced between $10 and $20 million were closed in 2015, and only 39 properties priced over $20 million found buyers last year. So we set out to investigate, and see whether or not a worrisome trend is emerging in the\u00a0luxury home market.<\/p>\n

PropertyShark data shows that the pace at which wealthy buyers have been snapping\u00a0New York City\u2019s upscale properties<\/a> \u2013 priced over $10 million \u2013 has indeed recorded a slowdown in 2015, but not an alarming one.\u00a0While 2014 saw a total of 250 sales of $10 million or more, there were 223 transactions recorded for this segment in 2015, out of which\u00a060 sales over $20 million (as opposed to 68 recorded in the year before). To sum up our findings:\u00a0<\/span><\/p>\n