Monthly Market Update: Flatiron District

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 Flatiron District’s performance through 2018 compared to the currently available inventory in the neighborhood.  Read on for more!

 

PRICE SEGMENT PERFORMANCE

Thus far, in 2018, there have been 180 closed sales transactions in the Flatiron area. Of these, over 36% were priced below $1 million, 42% priced between $1 – $3 million, 18% priced between $3 – $8 million, 3% priced between $8 – $12 million, and 1% priced over $12 million.  The RLS reports 141 currently active listings on the market, of which 18% are listed below $1 million, 45% are listed between $1 – $3 million, 30% are listed between $3 – $8 million, 3% are between $8-$12 million, and 4% are listed above $12 million.

 

REBNY LISTINGS ASKING PRICE

Historical Sales - Deal Count by Segment

REBNY LISTINGS MEDIAN ASKING PRICE BY SEGMENT

HISTORICAL SALES - SALE PRICE BY SEGMENT

 

PRICE TYPE PERFORMANCE

The median asking price for condos currently on the market is $3.15 million and $1.27 million for co-ops versus $1.2 million for townhouses. The median closed sales price in 2018 to-date is $1.97 million for condos versus $999 thousand for co-ops.

REBNY LISTINGS - MEDIAN ASKING PRICE

HISTORICAL SALES MEDIAN SALE PRICE

 

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