The real estate market has continued to pick up, with prices even in traditionally less expensive neighborhoods seeing a slight increase in prices per square foot. Here’s a look at the current NYC real estate market in numbers:
The highest current median price per square foot citywide is in Soho, at $1,959. The West Village, which had the highest ppsf overall last month, is now at $1,745, down from $1,918. The lowest median ppsf downtown is in the Lower East Side, where buyers can expect a ppsf of $971.
Midtown South is now leading the Midtown area with a median ppsf just under $1,940 with Flatiron trailing behind (but still up from last time) at $1,882. Sutton Place has the lowest ppsf of the area again, though it is now above the $1,000 mark.
On the West Side, Lincoln Square is leading the area at $1,591 psf, and the Upper West Side has the lowest ppsf, which is currently just under $1,300.
As we go further Uptown, prices range from a high of $987 in East Harlem to a low of $464 in Inwood.
Carnegie Hill is still leading the Upper East Side with a median ppsf just over $1,400, and Yorkville remains the lowest at $1,191.
The highest median price by borough is in Manhattan, now past the $1.4M mark, while the Bronx has the lowest median price by borough at $400,000.
The market is still slightly in favor of sellers, 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.