The Post-Election Surge: Cutting Through the Noise
The week immediately following the November 4th election (Nov 3–9) posted one of the strongest performances of the year for Manhattan’s $4M+ residential market. Forty-one contracts were signed in those five days post-election, marking the first 40-plus contract week since May and silencing speculation that high-net-worth buyers would hesitate. It was also the 4th week in a row of 30+ signed contracts.
And even more interesting, more than half of those contracts (24 in total) were signed directly after Mamdani’s victory, confirming that the luxury segment did not pause - it accelerated.
The Following Week: Returning to Resilience
In the subsequent week (Nov 10–16), contract activity returned to a healthy, pre-holiday cadence, signing 25 contracts - 16 fewer than the election-week high, but right in line with the high-volume weekly average established throughout the last year.
Weekly Mix: Condos maintained their dominance, outselling co-ops 17-4, with three townhouses and one condop also in the mix.
A Healthy Baseline: This total of 25 contracts is precisely what the market registered as its robust weekly average this time last year, affirming that the strong underlying demand remains.
Historical Strength: 2025 Hits a Major Milestone
Far more significant than any week-to-week fluctuation is the year-to-date performance. The luxury market has proven that its movement is driven by fundamentals - quality product, scarcity, and long-term value - not political noise.
With the latest figures, 2025 has already surpassed the total contract volume of last year:
Year-to-Date Contracts: A staggering 1,326 contracts have been signed at the $4 million and above price point.
Historical Milestone: This total has already eclipsed the 1,295 contracts signed in all of last year, putting 2025 on track to be the second-best year for luxury sales since the Olshan Report began tracking in 2006.
November's strong contract activity is a reminder that New York’s affluent buyers continue to invest in a market that remains one of the most resilient and desirable in the world.
