In the month of May, the townhouse market for Harlem continue to show steady inventory increase but with limited sales. See below table. 19 new listings came into the market and there were 6 closings. The high price for new listings was a renovated property which is asking $4.725 million and the low price is an SRO building at 361 W 116 street which is asking $1,850,000.
The total # of listings available in the Central Harlem,Hamilton Heights market is 85 with an average asking price of $3.156 million. Days on the market is an average of 116 and inventory is on the rise as we have over 14 months of supply available as of now.
There are 18 open houses set up for this Sunday which is a fairly robust amount. All of this data is point towards more choices for buyers in this Spring season.
|May Harlem report|
|# new listings||# contracts||Sales||High price||Low price|
|# Total listings||Average price||Average DOM||Inventory|
|85||$3.156 mm||116||14 months|
|Listings by Price|
The Author- Brian Silvestry , a licensed real estate broker, has been selling residential and commercial real estate since 1999. He has sold in every neighborhood from Battery Park City to Washington Heights.