Market Snapshot – SoHo
Warburg’s Monthly Market Update offers a quick snapshot of the active listing metrics compared to the recent historical performance of the target area. This month we focus on SoHo’s performance through 2019 compared to the currently available inventory in the neighborhood. Read on for more!
PRICE SEGMENT PERFORMANCE
Thus far, through 2019, there have been 27 closed sales transactions in SoHo. Of these, over 15% were priced below $1 million, 37% priced between $1 – $3 million, 37% priced between $3 – $8 million, and 11% priced above $8 million. The RLS reports 96 currently active listings on the market, of which 8% are listed below $1 million, 23% are listed between $1 – $3 million, 50% are listed between $3 – $8 million, 7% are listed between $8-$12 million, and 11% listed above $12 million.
PRICE TYPE PERFORMANCE
The median asking price for condos currently on the market is $5.23 million and $3.15 million for co-ops versus $9.75 million for townhouses..
The median closed sales price in 2019 to-date is $3.64 million for condos, $2.49 million for co-ops versus $8.7 million for townhouses.
