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 Upper West Side’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 1,798 closed sales transactions in the Upper West Side area. Of these, over 43% were priced below $1 million, 40% priced between $1 – $3 million, 14% priced between $3 – $8 million, 2% priced between $8 – $12 million, and 1% priced over $12 million. The RLS reports 1,024 currently active listings on the market, of which 26% are listed below $1 million, 40% are listed between $1 – $3 million, 24% are listed between $3 – $8 million, 4% are between $8-$12 million, and 6% are listed above $12 million.
PRICE TYPE PERFORMANCE
The median asking price for condos currently on the market is $2.75 million and $1.36 million for co-ops versus $8.99 million for townhouses.
The median closed sales price in 2018 to-date is $1.65 million for condos, $961 thousand for co-ops versus $8.04 million for townhouses.