Currently, our team has seen a lot of interest in renting and buying apartments on the Upper East Side, most specifically a number of apartments we’ve been listing on East 87th Street. We work with buildings in the area, and they are noticing a high demand for their properties as the spring season approaches. It’s no surprise, seeing as the street itself is a picturesque characterization of one of the most esteemed neighborhoods in New York City. For those owning property in the area considering listing, it would be a smart move to do it now, or at least soon.
From a financial perspective, spring is an ideal time to start marketing your apartment in New York. The season sees an influx of incoming renters and buyers coming in from all directions. Recent graduates start to move to the area as they are receiving job offers, thus increasing the uptick in renters. The weather change generally gives potential buyers more energy and optimism. This comes through in the numbers: May is statistically the most successful month to put your apartment on the market in Manhattan, as noted by Urban Digs. During this month, over 5,500 written contracts have been made over the past five years, followed closely by those written in April, its immediate runner-up.
Putting your home up now could turn out a fair amount of profit for you. Apartments on the Upper East Side can fulfill both the needs for a quiet neighborhood as well as an urban setting, characteristics ideal for many buyers looking into Manhattan’s housing market. With so much interest during this high-traffic season, it is unlikely that you will have to lower your asking price to accommodate the market. Feel free to reach out for a no obligation market analysis or click here.