Sales of Upper West Side townhouses through May of 2017 continued to outpace sales from the same period in 2016. Total sales volume to date is $215.9 million, compared to $159.8 million last year, an increase of 35.1%. Average sales price was also up 15.1% to $8.0 million, while average price per square foot rose 5.5% to $1,332/ft. Much of the increase continues to be driven by the sale of higher priced homes, with a total of seven 8-figure sales to date, vs. five in all of 2016. The highest priced sale so far this year is $15.8 million for the 37' wide mansion located at 3 Riverside Drive, less than the high water mark of $18.5 million in 2015, but a healthy increase over the $12.5 million sale that topped the market last year.

The inventory currently for sale shows 26 of 59 townhouses with 8-figure asking prices, with fourteen of those properties having undergone price reductions as the market seeks to find its equilibrium. The small pool of high-end buyers, combined with the healthy supply of available luxury homes, heightens the importance of accurate pricing in the current marketplace.