No Signs of ‘Millionaire Exodus’ as Manhattan Luxury Contracts Surge Post-Election

Defying pre-election anxieties about potential policy shifts under new leadership, Manhattan’s luxury real estate market delivered a powerhouse performance in November and early December. Signed contracts for properties priced over $4 million soared 25-31% month-over-month, with November tallying 151 such deals—a sharp increase from October’s 115. Experts like appraiser Jonathan Miller and broker Donna Olshan have emphasized that fears of a wealthy buyer flight proved unfounded, with year-over-year metrics showing rises in sales volume, prices, inventory absorption, and rental activity—particularly accelerating in the fall months. This resilience bucks softer national trends and highlights NYC’s unique draw for ultra-high-net-worth individuals, bolstered by factors like Wall Street performance and international appeal. The surge, including strong activity even during Thanksgiving week (exceeding 10-year averages), positions the market for continued strength into 2026, affirming Manhattan as a stable haven for luxury investment.