There were 46 contracts signed under $4M on the Upper West and East Sides this past week and nearly 80% of these were between $500K and $2M. This is an increase from the previous weeks that had only approximately 20 contracts per week since we entered Phase 2. There were only 3 contracts above $2M in both neighborhoods. We do think this is the price point that is likelier to move in the summer and especially this summer as most buyers in the higher end are still away from the city or are considering their priorities while we wait for a directive on opening schools. Co-ops prevailed on the Upper West Side this week but it was pretty even on the Upper East Side between co-op and condo sales.
We are happy to give you more detailed information on the properties in each category.
Please contact us at DEK@corcoran.com or 212.937.7011.