Mar. 25, 2008 - creeping Manhattan inventory a feint or more creepy?
oracle of data
Over at Matrix, Jonathan Miller links to a chart he did for Crain’s New York Business showing that the number of coops and condos available for sale in Manhattan has gone up 15% from the end of December to the end of February, though still at relative historically low levels. As you can see from this chart he did for Curbed, which I hit in seasonality of Manhattan inventory, not so much, the rise since December 2007 brings inventory back to the level it of January 2007.
impossible to know but fun to speculate?
Of course the question for these days of General Economic Anxiety is whether the 2 month rise in inventory to start 2008 will continue an upward trajectory and take more starch out of the real estate market, or whether the monthly inventory will repeat that lovely color (teal?) for 2007 in the Curbed chart by dropping in late Spring.
I probably should look again at the data corruption issues to providing a number for Manhattan loft inventory in my weekly reviews...
© Sandy Mattingly 2008
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on matters of interest to Manhattan coop or condo loft apartment dwellers, buyers, sellers, and others, especially about New York City real estate
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