8-2014Manhattan [click to expand]

Thoughts Not a big difference from last year. Sub-$3M is generally very tight with not much variation between price categories in each region. There isn’t much difference in the $10M+ market. Condos are slower than co-ops overall, but not by much. The difference is being seen in the $5M to $10M, which is moving more slowly moving than it was a year ago.

Side by side Manhattan regional comparison:

August 2014 v 2013
8-201408-2013 [click images to expand]

I started this analysis in August 2009 so I am able to show side-by side year-over-year comparisons. (I got tired of the red/gray look in 9-2014 so I changed it) The blue/red line shows the 10-year quarterly average for context. The pink/orange line represents the overall average absorption rate of the most recently completed month for that market area. 

Definition Absorption defined for the purposes of this chart is: Number of months to sell all listing inventory at the current annualized pace of sales activity in our market report series.

Manhattan Market Absorption Charts [Miller Samuel]


3 Responses to “[Manhattan Absorption] August 2014 The $3M-$5M Market Slows Down”

  1. Gabe Sanders says:

    Great stats. Can you tell me why co-ops sell faster than condos?