Absorption defined for the purposes of this chart as: Number of months to sell all listing inventory at the annualized pace of sales activity.

The absorption rate continues to hover around the ten year average up to about $3m above which it expands at differing rates depending on the region.

May 2010

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Manhattan Absorption Archive 2009 [Miller Samuel]
Manhattan Absorption Archive 2010 [Miller Samuel]

Note: This chart series does not include shadow inventory (properties ready for market but not yet listed for sale) so this anlaysis understates the rate of condo absorption. The Uptown (Northern Manhattan) data set is too thin for a reliable presentation.