Which Upper East Side Block's are Linked to a Quicker Sale?

Posted August 25th, 2017

Why is it that some townhomes sell quicker than others? Is it just luck, or is there some sort of link between a fast sale and the traits of the home? In the past year, the Upper East Side has witnessed 10 townhomes sell in three months or less. Of these 10 homes, there were five located in the 90’s, four in the 70’s, and one in the 60’s. Interestingly, there were no sales in the 80’s with the 90-day time frame. Given the high volume of sales in the 90’s it is safe to say that this area is becoming more and more popular amongst buyers. Aspects that could be attracting buyers to the 90’s are the neighborhood's tree-lined blocks, lower price tags, large outdoor spaces, quiet streets, and proximity to Central Park. The average sale price amongst these five quick 90’s sales was $6,264,000, far below the average UES 2017 sale price of $15,452,721. The average sales price of the three 70’s townhomes was $8,146,667. Lastly, the home at 349 East 62nd Street sold for only $3,850,000. So, is the lower price tag the reason these homes are being scooped up so quickly?

What challenges this theory is the amount of inventory we have on the market with similar price tags. There are 18 active listings in the UES for $10 million or less, 15 of which have been on the market for 100 days or more. With eight active listings in the 80’s, three in the 60’s, three in the 70’s, and just two in the 90’s. Because of this we theorize that the 90’s are proving to be the new hot spot and are directly linked to a quicker sale than the average townhome in the UES. Buyers are extremely drawn to what the east 90's blocks offer, and it's no wonder these homes are selling quicker than their competitors in neighboring blocks.

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