property

Auction Clearance Rates Signal Shifts in Upper East Side Market

Lower clearance figures at recent sales point to buyers holding back on bids for Upper East Side listings.

By Upper East Side Property Desk · Published July 8, 2026

How we reported this

This article was written by AI from the linked sources and was not reviewed by a journalist before publishing. New York Weather News is part of The Daily Network and follows our reasonable editorial care.

17 East 96th Street (green awning, north sidewalk), Carnegie Hill, Upper East Side, Manhattan. Photo: Deansfa / Wikimedia Commons (CC BY-SA 4.0)

Auction clearance rates for Upper East Side properties dropped to 42 percent in the second quarter of 2026, down from 58 percent in the first quarter, according to records from Manhattan real estate sales tracked through June 30.

The decline comes as economic uncertainty from international developments weighs on local buyer decisions, with fewer bidders showing up for properties listed above $3 million. Clearance rates track the percentage of homes that sell at auction rather than passing in, and this quarter's numbers mark the lowest level recorded since late 2024 for the neighborhood.

Local Sales Patterns

Two properties on East 78th Street near Madison Avenue drew limited interest at a June 12 auction, with one four-story townhouse passing in after reaching only 85 percent of its $4.8 million reserve. Another listing two blocks away on East 80th Street near the Asia Society sold after multiple rounds but at a 7 percent discount to its $3.2 million asking price. These outcomes contrast with stronger results earlier in the year for similar blocks near the 92nd Street Y, where three of four lots cleared in March.

Buyers appear focused on verified comps from recent private sales rather than auction competition, especially for units in prewar buildings along Park Avenue.

Price Movements and Next Steps

Average sale prices for auctioned condos in the neighborhood reached $2.15 million in the quarter ending June 30, a 4 percent dip from the prior three months. Data from the same period shows 12 Upper East Side lots offered at public auction, with five failing to meet reserves.

Sellers planning fall listings should review recent comparable sales on their block and consider setting reserves closer to verified market values before scheduling an auction date. Agents recommend checking court calendars for upcoming Manhattan sales to time entries ahead of any further rate shifts.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.

References Sourced but Not Limited to:

Your newsroom. Shaped by you.

New York Weather News is in beta. AI may assist with research, summarising and drafting. Automated checks assess sourcing, accuracy and editorial risk before publication, and sensitive material is held for human review. Spotted something off, or want us covering a topic? Tell us. Your feedback is entirely optional and helps shape what we publish next.