The busy seasons for sales and rentals are behind us as we launch into the Fall market, where buyers typically put on the brakes in the interest of back to school activities and the holidays. Technology today has refined the way we all shop, so we have seen these historical trends begin shifting, with more buyers and sellers choosing anytime of year to meet their real estate goals. Let’s look at some of the most recent market figures before the 3rd quarter comes to an end. Stay tuned for next month’s market update which will include all data from the Compass quarterly market update for the first three quarters of the year.
NoLiTa and TriBeCa listings are currently at the highest PPSF downtown at about $2K psf each, while the Lower East Side is currently at the lowest downtown price point at just over $1,100 psf.
Midtown South remains in the lead for highest ppsf in Midtown, and Sutton Place remains last and with a median ppsf of $955.
Lincoln Square still has the highest UWS asking price, although it is down just under $40 psf since last month’s market update. The sub-neighborhood of The Upper West Side is still hovering around $1300 psf, though it is us up $12 psf since last month’s market update.
As we go further uptown, the highest prices can be found in Harlem, currently asking a median ppsf of $924, with Inwood still trailing behind all the other neighborhoods at $505 psf, though this represents a $40 psf increase since last month’s update.
Pricing in the UES area is now led by the sub-neighborhood of The Upper East Side, currently asking a median rent of $1,253, with Yorkville remaining the lowest priced UES neighborhood at $1,181 psf.
Have a look at median prices by borough, and please let me know if I can help you buy, sell, rent, or lease any home in any of the 5 boroughs.