Soho residential listings selling at 15% discount according to report

According to a recent report, the residential listings in Soho are experiencing price cuts of approximately 10% and usually are chopped another 5% after that. The market like many neighborhoods in Manhattan is a buyer’s market. Seller’s expectations are coming down but as this is happening in Soho, the sellers do not have to sell so the market is at an impasse.

The below table shows the number of active listings by bedroom count in Soho.

# Bedrooms Active Low Price High Price
1 36 $580,000 $11,000,000
2 58 $630,000 $12,250,000
3 + 80 $1,995,000 $40,500,000

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.