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Luxury property deals worth at least $4 million in New York City (NYC) went off the market with relative ease in 2021. While this indicates a subsequent short-term increase in prices for luxury properties, a market slowdown may happen in the year ahead, according to a new report.

Leading New York City data and market insight provider UrbanDigs summarized the key trends in the previous year that would shape the Big Apple’s luxury residential scene in 2022. Among these highlights include buyers and sellers who “search for equilibrium in a more balanced [real estate] market.”