Midtown East Market Snapshot
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 performance in Midtown East 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 510 closed sales transactions in Midtown East. Of these, 51% were priced below $1 mil-lion, 37% priced between $1 – $3 million, 8% priced between $3 – $8 million, 1% priced between $8 -$12 million, and 3% priced over $12 million so far. The RLS reports 743 currently active listings on the market, of which 40% are listed below $1 million, 39% are listed between $1 – $3 million, 15% are listed between $3 – $8 million, 3% are listed between $8-$12 million, and 3% listed above $12 million.
PRICE TYPE PERFORMANCE
The median asking price for condos currently on the market is $983,000 for co-ops, $2.48M for condos, versus $7.5M for townhouses.
The median closed sales price in 2019 to-date is $793,000 for co-ops, $1.64M for condos, versus $5.2M for townhouses.
