SoHo Real Estate Snapshot – Condo Oversupply and Co-Op Undersupply
I love discovering fascinating statistics. While in total the SoHo market is in equilibrium, it appears that there is an over-supply of condos and an under-supply of co-ops.
As of right now, there are 153 active listings on the market in SoHo, including both condos and co-ops. The average price is $7,684,996 and the median price is $4,550,000.
In the past year, 217 closed with an average price of $3,755,304 and a median price of $2,500,000.
73% were condos and 27% were co-ops.