Upper East Side Co-op market prices were highest this year in May of 2022. More recently, over the the summer, the median price per sf. of sold units has softened as follows:
$1m to $2m Market: -8%
$2m to $5m Market: -6%
$5m to $10m Market: -16%
Supply is up Seasonally After Labor Day
The supply of Upper East Side Co-ops is ticking up now, as sellers have started to bring apartments to market after Labor Day.
This is typical seasonal behavior, signalling a return to an historically "normal" vs. extreme market.
Sales Volume Returning to Historically Average Range
Pending Sales have slacked off from the extremely strong 2021 market in Manhattan and are
actually at an historically average level of activity. The pace seems slow, however, in comparison.
Market Activity Starting to Favor Buyers
The higher end $5m to $10m Market is already favoring buyers.
Compass is a licensed real estate broker. All material is intended for informational
purposes only and is compiled from sources deemed reliable but is subject to
errors, omissions, changes in price, condition, sale, or withdrawal without
notice. No statement is made as to the accuracy of any description or measurements
(including square footage). This is not intended to solicit property already listed.
No financial or legal advice provided. Equal Housing Opportunity.
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actual property conditions.