Core Insights - Manhattan luxury home sales increased in November despite concerns over the potential impact of the new mayor-elect's policies on wealthy residents [1][5] - The number of signed contracts for luxury homes priced at $4 million or more rose to 176 in November, up from 141 in October [2] - The luxury home market is on track for its second-highest sales year since 2006, with over 1,300 contracts signed so far this year [6] Market Performance - There were 116 luxury home sales in Manhattan in November 2024, indicating a robust market despite political concerns [2] - More than half of the contracts signed between November 3-9 were completed after the mayoral election, suggesting resilience in the market [3] - The luxury home market in New York City increased at more than double the rate of the overall market last month [7] Demographics - Approximately 34,700 residents in New York City reported an income of $1 million or more in tax year 2023, a slight increase from the previous year [4] - The number of millionaires in the city has seen fluctuations, with a peak of 35,881 in 2021 [4]