2021 Mid-Year New York City Townhouse Report

To put it plainly - the townhouse market is booming. Average sales price for townhouses in Manhattan is up by roughly 25% year-over-year, and transaction volume is up by nearly 50%. Buyers are active, the deal cycle is shorter, and properties priced well are selling fast. In particular, the Upper East Side and Greenwich Villlage have fared well this year. The average sales price on the Upper East Side has increased by 20%, and transaction volume is up by almost 80%. In the Village, average sales price is up 33%, and transaction volume is up 120% with 22 sales in the first half of 2021 (1H2021).

One of the more notable sales this year includes 12 East 69th Street, which was the highest priced sale of the year thus far. The renovated 40'-wide mansion sold for $59M and $2,950/ft.

As we enter 2H2021, contracts are still getting signed consistently and buyers are very active. The typical summer slowdown has not yet set in, and we anticipate the townhouse market to continue growing as New York reverts to pre-pandemic activities. The rising number of cases may present a temporary setback, but we anticipate the townhouse market to continue to benefit as a result of the desirability of privacy and control over one's environment.