Checking in on the Upper East Side Market
A: I apologize for the slow content lately. It likely will be this way until we launch our new Manhattan comps systeml as Im back to spot checking raw data for integrity issues related to building a real good comps tool. Since UrbanDigs recently went live with chart features to track the Co-op, Condo & Townhouse markets in Manhattan, I have encountered interesting trends in some neighborhoods. Today I wanted to show you how the Upper East Side co-op market has performed relative to the condo market since January of 2008.
As one would expect, the Upper East Side condo market has been significantly more volatile compared to the Upper East Side co-op market over the last 4 years. This chart basically shows you the pace of demand in real time for UES co-ops versus UES condos:
Subscribers can click here for this chart.
Here is the same chart for the Upper West Side marketplace, where the trend of pending sales for both co-ops and condos were tighter.
For the market overall, we have seen a slight general tick down in new deals signed as should be expected before the holiday season kicks in. Deals are still happening, just at a slightly lower pace than 2-3 weeks ago. Click on the 'Sub-Market' tab of our Charts system to identify local neighborhood/price/bathroom trends in all of Manhattan.