The folks over at Urban Digs just took a look at Q2 sales and it looks like properties asking over $5M are having a better time on the market than their cheaper counterparts. The reason? Foreign buyers, duh! Nikki Field of Sotheby's says "Q2 continued to be all about the International Buyer. In particular, the world's Emerging Elite are at our shores. China and India are now surpassing our European and Russian customers in volume purchases, however their price points tend to be lower as they are sampling the residential inventory buffet." Stop filling up on the Salmon, Asian buyers! Go for the Filet Mignon!
· Manhattan Round-table: State of the Market [Urban Digs]