Monthly Market Update – Harlem
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 Harlem’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 482 closed sales transactions in the Harlem area. Of these, over 70% were priced below $1 million, 25% priced between $1 – $3 million, 5% priced between $3 – $8 million, and no sales over $8 million.
The RLS reports 220 currently active listings on the market, of which 52% are listed below $1 million, 35% are listed between $1 – $3 million, 12% are listed between $3 – $8 million, and less than 1% are $8-$12 million, and even fewer listed above $12 million.
PRICE TYPE PERFORMANCE
The median asking price for condos currently on the market is $975,000 and $458,000 for co-ops versus $3.1 million for townhouses.
The median closed sales price in 2018 to-date is $825,000 for condos, $420,000 for co-ops versus $2.21 million for townhouses.
