Market Snapshot – Hell’s Kitchen

Market Snapshot – Hell’s Kitchen

Warburg’s Monthly Market Update offers a quick snapshot of the active listing metrics compared to the recent historical performance of the target area.  This month we focus on the Hell’s Kitchen area performance through 2019 compared to the currently available inventory in the neighborhood.  Read on for more!

 

PRICE SEGMENT PERFORMANCE

Thus far, through 2019, there have been 95 closed sales transactions in Hell’s Kitchen. Of these, over 57% were priced below $1 million, 37% priced between $1 – $3 million, and 6% priced between $3 – $8 million, with none over $8 million so far.  The RLS reports 265 currently active listings on the market, of which 35% are listed below $1 million, 48% are listed between $1 – $3 million, 13% are listed between $3 – $8 million, 2% are listed between $8-$12 million, and 2% listed above $12 million.

Current Prices by Segment Historical Deal Count by Segment

Historical Sale Price by Segment Median Asking Price by Segment


PRICE TYPE PERFORMANCE

The median asking price for condos currently on the market is $1.67 million and $5,750,000 for co-ops versus $11 million for townhouses.Median Asking Price by Type

The median closed sales price in 2019 to-date is $1.16 million for condos, $5,500,000 for co-ops versus $3.15 million for townhouses.

Historical Median Sale Price by Type

 

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