UWS Outshining UES in 2011...
A: Lets check in on how the Upper East & West side markets have been performing so far in 2011.
First, lets check out ACTIVE Inventory trends for both the Upper East Side & Upper West Side:
UES ---> 1,000 current ACTIVE units, up 9.8% YTD
UWS ---> 1,036 current ACTIVE units, up 14.2% YTD
Next, lets check out PENDING Sales trends for both the Upper East Side & Upper West Side:
UES ---> 270 units in contract pending closing, down 3.6% YTD
UWS ---> 385 units in contract pending closing, up 14.9% YTD
It's clear that for the first 9 1/2 weeks of 2011 that the Upper West Side is outperforming its counterpart. If we did a ratio of Active to Pending for both markets, we would find the UES lagging behind the UWS in terms of local demand relative to supply.
UPCOMING NEW CHART U/I: We have been hard at work on a number of great new upgrades. In a few weeks we will:
a) launch an expanded 16 Manhattan submarkets
b) launch a white labeled PDF printable report tool
c) launch Coop-Condo-Townhouse charts
d) launch a re-engineered Chart user interface (U/I) that will allow you to measure any submarket relative to its broader market - we will build intelligence into the platform so that worthless charts (charts w/ not enough data) won't even be an option
Until then, we can only measure a submarket versus another submarket, like I just did above for UES vs UWS.
Posted by Chris
Thu Mar 10th, 2011 04:53 PM
Can you break sales down by unit size? Curious about studio inventory/sales UES vs. UWS.
Posted by urbandigs
Thu Mar 10th, 2011 05:17 PM
Yes but there are so many combinations, I need more info. Ill pull up a few charts for you and put it in the public TALK section..
input options are, max 2 chart types at a time:
1. chart type: active, pending, off mkt
2. nhood
3. # bathrooms
4. price range
give me 1 or 2 different combinations that you want to see
Posted by Chris
Thu Mar 10th, 2011 06:00 PM
Looking at studios and 1 BRs with one bathroom. $300 - 500K range. Upper west side or midtown west vs. east side. For studios especially, there seem to be fewer units available on the west side, especially doorman buildings.
Posted by Dan
Fri Mar 11th, 2011 09:56 AM
Chris -- there is a studio and 1BR in my UWS doorman building, the 1BR probably out of your range though
Studio
http://realestate.nytimes.com/sales/detail/185-921133/200-WEST-79TH-STREET-6A-NEW-YORK-NY-10024
1BR
http://realestate.nytimes.com/sales/detail/46-1337828/200-West-79th-Street-NEW-YORK-NY-10024
Posted by urbandigs
Fri Mar 11th, 2011 11:00 AM
Chris - here you go, in the TALK section
http://www.urbandigs.com//talk/viewtopic.php?f=1&t=99
http://www.urbandigs.com//talk/viewtopic.php?f=1&t=100
Posted by Chris
Sat Mar 12th, 2011 01:25 AM
Thanks Noah. I actually thought the east side would be more active since there seem to be more listings to choose from.
Dan, the studio is very nice but already in contract. The 1BR is a stretch for me.
Posted by Brodsky Organization
Thu Aug 11th, 2011 04:42 PM
The Upper West Side rental market appears to be having some tremendous success. That is great to hear...hopefully this upward trend will continue!