UWS Q3 Market Update

Dear UWS Friend,

In addition to our overall market reports for Manhattan and Brooklyn which we sent earlier today, we wanted to share with you some additional information specifically about the Upper West Side.

West Side sales increased by 4% annually, reaching approximately 675 closings, driven by growth in resale condos and new development sales, despite a slight decline in resale co-op sales. Active listings on the West Side also fell by 4% to 1,031 units, with a notable 13% decrease in inventory south of 86th Street.

The average days on the market rose marginally by 1% to 93 days, the lowest in Manhattan. The median price climbed 5% year-over-year to $1.255 million, bolstered by over a 20% rise in new development sales, such as 393 West End Ave, 96+ Broadway, and the Rockwell (103rd/Broadway).

We have been very busy in the UWS the last few months, and were fortunate enough to represent two buyers who closed on their new homes over the Summer. If you've been considering the Upper West Side, we'd love to hear from you.

Have a wonderful fall and holiday season, and be sure to keep an eye out for our next UWS report, which will be released at the beginning of the year.