Is Upper West Side, NY a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Upper West Side has remained a Buyer's Market.
Key Takeaway
Upper West Side is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Upper West Side, NY
How much do homes in Upper West Side, NY cost?
Median Sold Price
$1,409,153
$1,424/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Upper West Side have sold for 2.5% less than they did a year ago.
Summary: The median home sold price in Upper West Side was $1,409,153 in May 2024, down 2.5% from last year, and the median price per square foot was $1,424.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $839.6K | $795K | -5.3% |
| 2 Bedrooms | $1.5M | $1.4M | -4.4% |
| 3 Bedrooms | $2.6M | $2.5M | -4.6% |
| 4 Bedrooms | $4.4M | $4.9M | +12.4% |
| 5+ Bedrooms | $6.4M | $6.6M | +2.3% |
Summary: Upper West Side housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.3%, 2 bedroom homes decreased by 4.4%, 3 bedroom homes decreased by 4.6%, 4 bedroom homes increased by 12.4%, and 5+ bedroom homes increased by 2.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Lincoln Square | $1.8M | $2.5M | +32.6% |
| Manhattan Valley | $774K | $845K | +9.2% |
| Hell's Kitchen | $1.1M | $1.1M | -1.5% |
| Upper West Side | $1.4M | $1.4M | -2.5% |
Housing Supply in Upper West Side, NY
How many homes are available in Upper West Side, NY?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 1,040 | 970 | -6.7% |
Summary: The Upper West Side real estate market had 970 homes for sale in May 2024, a 6.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 313 | 281 | -10.2% |
| 2 Bedrooms | 292 | 262 | -10.3% |
| 3 Bedrooms | 242 | 227 | -6.2% |
| 4 Bedrooms | 103 | 111 | +7.8% |
| 5+ Bedrooms | 90 | 89 | -1.1% |
Summary: The Upper West Side housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 10.2%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 1.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 105 | 81 | -22.9% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
66 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Upper West Side, expect to pay close to the asking price. 81.5% of homes here sold near the asking price last month.
Summary: A total of 81 homes were sold or pending in Upper West Side in May 2024, down by 22.9% month-over-month. Of the 81 sold homes, 14% were sold under asking, 81% were sold at asking, and 5% were sold over asking.
Days on Market for Upper West Side, NY
How long does it take to sell a home in Upper West Side, NY?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 48 Days | 91 Days | +87.6% |
Summary: Homes in Upper West Side had an average of 91 days on market in May 2024, up by 87.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Upper West Side are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 81 homes were sold in Upper West Side; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
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