The highest current median price per square foot citywide is in the West Village, at $1,918. NoLita, which had the highest ppsf overall last quarter, is now just below $1,700. The lowest median ppsf downtown is in NoHo, where buyers can expect a ppsf of $1,076.
The Flatiron District is now leading the Midtown area with a median ppsf just above $1,700 with Hell’s Kitchen following close behind and coming at $1,618. Sutton Place is still coming in last, remaining under $950 psf.
On the Upper West Side, the Lincoln Square section is still in the lead with the current median ppsf now over $1,700 while Manhattan Valley is still below $1,200.
As we look Uptown, prices range from a high of $923 in Central Harlem to a low of $416 in Inwood.
Carnegie Hall is still leading the Upper East Side with a median ppsf just under $1,300, and Yorkville is up from last quarter but still the lowest at $1,100.
The highest median price by borough is in Manhattan, coming in just below $1.4M, while the Bronx has the lowest median price by borough at $393,000.
We’re seeing a slight shift in favor of sellers now, with a third of properties bringing in the full asking price or more, compared to 29% in Q1, but not quite rising back to the level of 38% in Q2 of 2016. Buyers still have the advantage, though, since 67% of properties were sold below the asking price. Sellers should still remain open to strategic pricing to ensure they’ll garner interest.