The Upper West side townhouse market has seen increasing inventory over the last several months and fewer and fewer sales. In the last 3 months, 22 new listings have come on the market.
|Last 3 months|
|# Sales||Average/month||Low price||High price||Inventory|
|8||2.7||3.9 million||9.25 million||24 months|
The next table shows all 8 sales in the last 3 months, with sale price and price per square foot.
|308||W 90 ST||$3,900,000||$955|
|112||W 75 ST||$4,500,000||$649|
|113||W 75 ST||$5,000,000||$789|
|47||W 95 ST||$5,399,157||$1,342|
|16||W 88 ST||$8,000,000||$1,399|
|161||W 91 ST||$8,072,000||$2,026|
|316||W 88 ST||$8,375,000||$1,560|
|43||W 76 ST||$9,250,000||$1,357|
Interestingly enough half of the sale recorded in the last 3 months for Upper West side townhouses were for <$5.5 million and the other half roughly between $8 million to $9.3 million. No sales were recorded above $10 million in the last 3 months and only 2 this year.
Currently at $10 million and up, there are 25 listings available which confirms that this segment of the market is deeply in a buyers market.
Below $10 million, there are 40 listings available on Manhattan’s upper west side. So if you segment the market to below $10 mm then the inventory level looks more like it will last about 15 months which is still a buyer’s market.
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.