Home > Blogs > New York > New York County > New York > Upper West Side > Upper West Side Market Report
24,926 views

Mitchell Hall's NYC RE Blog

Manhattan Real Estate

By Mitchell Hall | Broker in New York, NY

Upper West Side Market Report

Upper West Side Market Report

Resales

Resale co-op pricing on the West Side decreased from both Second Quarter 2011 and Third Quarter 2010. Median price dipped 4% from last quarter and 9% from a year ago while average price dropped 5% from last quarter and a year ago.

Three-plus bedroom co-ops, however, increased 11% in median price from last quarter. Resale condos, on the other hand, increased 11% in median price and 7% in average price per square foot versus Second Quarter 2011.

Compared to a year ago, condo median price dipped 4% as fewer two- and three-plus bedroom residences traded but average price per square foot was 2% higher.

 Data from Corcoran Report 3Q-11
NEW DEVELOPMENTS

West side new development pricing saw big jumps in median price and average price per square foot over both time periods.

Median price rose 43% from last year and 44% from last quarter as a large number of $5 million- plus transactions were recorded.

Average price per square foot increased 15% from last year and 14% from last quarter. These sales were primarily at  The Laureate, The Apthorp, The Aldyn and 535 West End Avenue.

Upper West Side Market data Mitchell Hall, Associate Broker, Corcoran
 Data from Corcoran Report 3Q-11

As always, I will continue to follow closely sales activity and trends in Manhattan, and would welcome the oportunity to answer any questions about this report, the market in general or any questions about buying or selling real estate in Manhattan.

Corcoran Report/Property Shark

courtesy of:

Comments

By Jo,  Sun Jan 15 2012, 11:51
hello,mitchell,
i live on west 86th street , between west end and riverside. the building is a co-op and is pre-war. 15 floors plus 2 small penthouses on the 16th. i live on the 2nd floor in the back and it is quiet but faces two buildings, one on either side of me . plus a garden and houses on the third side. there are two bedrooms , a large living room , an eat-in kitchen and bath. windows on three sides.no doorman; a live-in super. the apartment is approx. 950 to 1000 sq. feet. i want to get it ready to sell but don't know how much to do so as to make a profit. i have been told only to paint and some changes in the bathroom . i wanted to take the molding down and fix the kitchen but told that i wouldn't get my money back.what price do you think i would get doing a minimum amount of work or am i better off doing more? please advise me , if you can. thank you . j. di iorio
By Mitchell Hall,  Sun Jan 15 2012, 14:34
Hi Jo,

Please contact me at 917-312-0924 at you earliest convenience. I also live on 86th Street. I can help you.
By Lionel,  Mon Jan 16 2012, 22:01
Good one, I agree.
By Steve Hirsch,  Wed May 14 2014, 06:09
Its good to see some decrease. Maybe people with normal jobs can actually afford to buy something. What I've seen in the market are people with all cash or 50% down and going to lenders (not banks...like the ..so you can. bank. The average person cannot buy anything in Manhattan which is why the Queens market is so hot. But now Queens is getting high priced. Its good what the mayor is trying to do but still not sure if its actually fixing anything.
By Mitchell Hall,  Wed May 14 2014, 06:19
Hi Steve, Thanks for your comment. This report was posted in 2011 while the market was still declining from Lehman Bros./recession. Currently the market in Manhattan is very tough for average New Yorkers. I applaud the Mayor but his plan puts most of the housing for the very poor. In my opinion it is moderate and middle income New Yorker's that have the hardest time. I sell "affordable housing" unfortunately teachers make too much for many of the city programs.
By Jay Taylor,  Fri May 16 2014, 10:08
I agree with you that the market in Manhattan is very tough these days. The middle income New Yorker's have a tough time as they have very few options available to get a housing for themselves. Hope the scenario improves further.

POST
 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer