property
Days on Market Lengthen as Upper West Side Sellers Increase Discounts
Listings near Central Park West and Riverside Drive now average 48 days before sale, with vendors cutting asking prices by up to 7 percent.
How we reported this
Upper West Side apartments listed in June spent an average of 48 days on the market before closing, up from 31 days in the same month last year, while sellers offered discounts averaging 5.8 percent off original asking prices.
The shift comes as mortgage rates hover near 6.4 percent and buyers weigh inventory levels that have grown 12 percent year over year in Manhattan zip codes 10023 and 10024. Local brokers report that properties priced above $2 million face the steepest resistance, prompting more owners to adjust expectations before the summer slowdown.
Along West 72nd Street, co-ops in the Apthorp building have seen two units drop their prices by $175,000 after 55 days without offers. Nearby on Amsterdam Avenue, the former site of the now-closed Fairway Market has drawn investor interest, yet three converted rental units listed through Halstead Property remain unsold after 42 days despite a 6 percent price cut.
Street-Level Discount Trends
Corcoran data for the first half of 2026 shows 14 properties between 79th and 86th Streets reduced asking prices by at least $100,000. One three-bedroom at 225 West 83rd Street dropped from $3.25 million to $2.98 million on June 12 after 39 days listed. A two-bedroom at 308 West 97th Street cut its price by $85,000 on July 2 following 51 days on the market.
These adjustments align with broader Manhattan trends where the median discount reached 4.9 percent in June, according to StreetEasy figures released July 3. Upper West Side townhouses on Riverside Drive recorded the largest average concession at 7.2 percent.
Next Steps for Buyers and Sellers
Sellers planning to list before Labor Day should review recent closed sales on their block through the Real Estate Board of New York database and set initial prices within 3 percent of comparable transactions. Buyers can target listings that have exceeded 40 days on market and request inspection contingencies, as vendors in the 10024 zip code have shown increased willingness to negotiate closing credits up to $25,000.
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.