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.