{"id":57564,"date":"2009-12-01T13:32:35","date_gmt":"2009-12-01T18:32:35","guid":{"rendered":"http:\/\/www.businessinsider.com\/manhattans-inventory-problem-continues-to-improve-2009-11"},"modified":"2009-12-01T13:32:35","modified_gmt":"2009-12-01T18:32:35","slug":"manhattan-inventory-problem-continues-to-improve","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/57564","title":{"rendered":"Manhattan Inventory Problem Continues To Improve"},"content":{"rendered":"

(This guest post originally appeared at the author’s blog<\/a>)<\/p>\n

Absorption defined for the purposes of this chart as: Number of months to sell all listing inventory at the annualized pace of sales activity.<\/p>\n

The absorption rate continues to improve from a bottom up, approaching the 10-year 10.0 month average for all three market areas (the data set is too thin for a reliable trend for Uptown).<\/p>\n

Observations<\/strong><\/p>\n

The East Side absorption rate slows considerably above $1.5M. Co-ops are considerably slower than condos above that threshold. Condos generally absorb faster than co-ops.<\/p>\n

The West Side absorption rate has reduced in higher price segments, up to $3M. Co-ops generally absorb faster than condos below $3M but take much longer than condos above the threshold.<\/p>\n

The Downtown market absorption rate has reduced in higher price segments, up to $3M. Co-ops and condos are consistent below the threshold but co-ops absorb considerably slower above the threshold.<\/p>\n

Note: This chart series does not include shadow inventory (properties ready for market but not yet listed for sale) so it understates condo absorption.<\/p>\n

\"Absorb<\/p>\n

Join the conversation about this story »<\/a><\/p>\n

See Also:<\/b><\/p>\n