Upper West Side 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 the Upper West Side through 2019 compared to the currently available inventory in the neighborhood.
PRICE SEGMENT PERFORMANCE
Thus far, through 2019, there have been 1,633 closed sales transactions on the Upper West Side. Of these, 44% were priced below $1 million, 41% priced between $1-$3 million, 13% priced between $3-$8 million, and the remaining 2% is evenly split between $8-12 million and over $8 million segments so far. The RLS reports 1,145 currently active listings on the market, of which 27% are listed below $1 million, 38% are listed between $1-$3 million, 25% are listed between $3-$8 million, 4% are listed between $8-$12 million, and the remaining 6% listed above $12 million.
Of the currently active listings, 26% of these are 1-bedroom units, 28% are 2-bedroom units, 21% are 3-bedroom units, 17% are 4-bedrooms, and the remaining 8% are studio apartments.
PRICE TYPE PERFORMANCE
The median asking price for condos currently on the market for the Upper West Side is $1.3 million for co-ops, $2.81 million for condos, and $7.44 million for townhouses.
The median closed sales price in 2019 to-date is $969,000 for co-ops, $1.63 million for condos, versus $7.1 million for townhouses.