Monthly Market Update – The West Village
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 West Village’s performance through 2018 compared to the currently available inventory in the neighborhood. Read on for more!
PRICE SEGMENT PERFORMANCE
Thus far, in 2018, there have been 378 closed sales transactions in the West Village area. Of these, over 34% were priced below $1 million, 30% priced between $1 – $3 million, 26% priced between $3 – $8 million, 5% priced between $8-$12 million, and 5% priced over $12 million. The RLS reports 151 currently active listings on the market, of which 19% are listed below $1 million, 36% are listed between $1 – $3 million, 19% are listed between $3 – $8 million, 14% are listed between $8-$12 million, and 13% listed above $12 million.
PRICE TYPE PERFORMANCE
The median asking price for condos currently on the market is $4.1 million and $1.24 million for co-ops versus $11.3 million for townhouses.
The median closed sales price in 2018 to-date is $4.2 million for condos, $894,000 for co-ops versus $8.25 million for townhouses.
