The Luxury market is hurting? I don't know perhaps if you live in some parts of Detroit, where some developments of Luxury homes values fell from 900k to 400k. Now if you live in Manhattan it might be a good idea to smile if you own a piece of land... look at the following statistics from the year that just ended... Is this a local bubble... some think so. Some say that the Manhattan market is driven by Europeans buying all that is for sale.. perhaps, truth is that bubble or not it still gives the rest of the country a last hope in the luxury homes market, or perhaps false hope that things will get back to the 2003 market where you list one day, next day you go pending...

Truth is that Berks County homes have lost value like everywhere in most of our country, not so bad depending on the type of property you own... but in the Luxury, Historic homes market things do not look that bad in our area... homes are still selling. Good time to buy a hi-end property? I think so, but do not overpay... you are looking to buy a Luxury, Historic Property please get representation from an agent who can provide for you info and advise you to a successful transaction...

The average sale price of all Manhattan apartments was up 12% to $1,395,000
Condominiums sold briskly and made up 55% of all deals for the first time.
Condos increased by 9% on a price per square foot basis to $1,222
The median condo price was up 17% to $1,100,000
Co-ops increased by a more modest 3% price per square foot to $918
The median co-op price was up 2% to $666,000