In this month’s LUXURYLETTER ( see www.luxuryletter.com) the reports indicate a moderately healthy market, with strong activity on the higher end of the Manhattan Downtown luxury market.

Signed contract and closing activity levels are healthy, and pricing for the most part is stable, although drops have been seen in some areas: this does not necessarily indicate a trend as this is a month-by-month report and overall pricing is stable when compared to 6 months ago.

A NEW TREND:  We have seen several suburban buyers enter the market looking for a City residence to buy that they will use full time in about 3-5 years. BUT, they want to buy now at current pricing levels fearing that prices will rise significantly in a few years. Is this a real trend?