New Yorkers fleeing Mamdani for Miami? Yeah, right
Fears of a post-election chill in New York City’s luxury housing market are looking increasingly misplaced. In the 60 days following Mayor Zohran Mamdani’s November win, signed contracts for homes asking $4 million and above jumped more than 24 percent, while median listing discounts tightened to 6 percent from 6.5 percent, according to UrbanDigs data. The numbers cut against a narrative that wealthy sellers were slashing prices to exit the city and instead point to buyers leaning in. Discounts are a key proxy for leverage, and if sellers were rushing for the door, price cuts would have widened. They didn’t. […]
This article originally appeared on The Real Deal. Click here to read the full story.
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