Townhouse Market Recap!

Over the last few weeks we have been recapping information from our recent Vandenberg-sponsored BRC free seminar. This week’s recap topic is:

Townhouse Market Trends across Manhattan in the First Two Quarters of 2011:

Upper West Side: The first two quarters saw 9 sales on the UWS with an average price of just over $5.5 million. It is interesting that although the number of sales was about half what it usually is, the average price was 9% higher than it was last year. This number can be skewed by high-end sales (over $10,000,000.) In the first half of this year there was only one such sale: 41 West 74th Street, an 8,200 square foot, 2-unit luxury townhouse, that sold for $12,500,000.

Upper East Side: There were an identical number of sales on the UES as on the UWS. This is unusual – most years, there are almost twice as many sales on the UES, since it covers more area. The highest sale price was $14,250,000. Last year there were 61 sales, the priciest being 1009 Fifth Avenue. This run-down mansion across from the Metropolitan Museum was bought by Carlos Slim, one of the richest people in the world, for $40,000,000.

Harlem: In all 8 zip codes, there were 27 sales. Only 5 of these were higher than $1,000,000, and the highest price was $1,500,000. Last year’s highest Harlem sale was for $2,000,000.

Village: There were 11 sales. The highest price was 20 East 10th Street, which sold for $18,995,000. Last year’s highest sale price was $20,000,000.

Brooklyn Heights: There were 5 sales in the first two quarters of 2011. There were 40 sales total in 2010 – the highest of those was 13 Cranberry Street for $6,200,000.

In brief, what is happening on the Upper West Side is happening generally across the city – prices are holding somewhat steady, but the number of sales is way down. Again, this means it is important for sellers to price their homes to the market in order to ensure that their townhouses sell!

Are you interested in buying New York Townhouses? For more information on New York brownstones and townhouses for sale , contact Vandenberg — The Townhouse Experts TM. We specialize in townhouse realty.