Amount Of UWS Home Sales See Major Drop Off In 2023: Study

UPPER WEST SIDE, NY — People are not buying homes on the Upper West Side in 2023 at nearly the same rate as last year.

A new study by PropertyShark found that a eyecatching 193 of 215 neighborhoods across the city saw its number of home sales drop in the first quarter of 2023 when compared to 2022, including on the Upper West Side.

Even more lopsided was the situation in Manhattan, where 35 of the 37 neighborhoods saw home sales decrease in the first quarter of 2023 vs. 2022, according to the study.

Here are the numbers for the Upper West Side.

• # Of Sales Q1 2022: 365
• # Of Sales Q1 2023: 209
• YoY Change: -43 percent
• Median Sale Price Q1 2022: $1.35 million
• Median Sale Price Q1 2023: $1.22 million
• YoY Change: -9 percent

There were 156 more Upper West Side homes bought in the first three months of 2022 than the first three months of 2023.

It's a dramatic 43 percent decrease in the figure this year.

The price of the homes bought in 2023 did drop, though, with the median cost on the Upper West Side decreasing by roughly $128,000.

"It’s worth noting here that Manhattan had the smallest number of neighborhoods with sales on the rise in Q1 2023, with East Harlem sales up 10% Y-o-Y, and the Civic Center area up 66.7% Y-o-Y. Conversely, 37 other Manhattan neighborhoods recorded definite sales drops, 13 of which were down at least 50%," reads the report from PropertyShark.

You can check out the full report — HERE.