Increased Activity Leads to Optimism for Fall Selling Season

Posted September 6th, 2017

2017 Upper West Side townhouse sales through August of this year continued to show improvement over 2016. While the year-over-year spread has narrowed given the slow-down in sales that has occurred during the past three months, average sales prices are up 7.4% from $7.1 million to $7.6 million and average price per square foot increased 2.4% from $1,278 to $1,309. All ten sales that have transpired since June have been in the $4.0-$10.0 million range, indicating stagnation at the high end of the market, a notion that is reinforced by the steady growth in the Bid-Ask spread from 21.6% to 26.3%. Looking forward, anecdotal evidence drawn from incoming inquiries and recent showings has shown an up tick in buyer activity for our townhouse listings across the price spectrum leading to optimism that we are heading into a more robust selling season this fall.

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