According to analysis done today, there are 78 townhouses for sale in Central Harlem and Hamilton Heights ranging from $1.7 million to $5.7 million. There are 20 buildings in this area in contract bringing the total number of active plus contract to 98.
Most but not all of these 20 contracts were signed within the first four months of the year. 34 listings closed since the beginning of the year. That means there is approximately 10 months of existing supply in the market at this time.
For that reason, even listings in Central Harlem and Hamilton Heights that look to be very attractively priced are languishing on the market and price reductions are pretty steep these days.
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.