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 the Meatpacking District’s performance through 2018 compared to the currently available inventory in the neighborhoods. Read on for more!
PRICE SEGMENT PERFORMANCE
Thus far, in 2018, there have been 13 closed sales transactions in the Meatpacking District area. Of these, over 31% were priced below $1 million, with over 69% priced between $1 million – $3 million. The RLS currently reports 34 active listings currently on the market, of which 18% are listed below $1 million, 47% are listed between $1 & $3 million, 29% are listed between $3 – $8 million. The remaining 6% are listed are listed above $12 million.
PRICE TYPE PERFORMANCE
The median asking price for condos currently on the market is $2.9 million versus $926,000 for co-ops.
The median closed sales price in 2018 to date is $1.72 million for condos and $925,000 for co-ops.