Our research indicates a marked drop in available inventory this month. This decline in availability is consistent in almost every category of the market that we monitor.
Following are some examples:
On the Upper East Side, between 5th and 3rd Avenues and 60th and 96th Streets, there are 24% fewer listings than there were at the beginning of January. Availability in this category is now similar to that in the middle of last year.
The number of pre-war 7 and 8 room apartments declined from 83 at the beginning of January to 55 on February 7.
The number of apartments listed for over $3,000,000 declined by 18%.
The number of condominium lofts in selected sections of lower Manhattan declined by 26%.
The number of four and five room apartments in the Village, Soho and Gramercy Park neighborhoods dropped from 147 to 104.
The availability of pre-war sixes on West End Avenue and Riverside Drive dropped from 19 to 13.
This shift in availability follows a two-year period during which listing inventory has been slowly increasing.
Please note that a listing is defined as available if it has been listed or updated as available within the prior 90 days. All availability data is based on what is registered in the Brown Harris Stevens listing system.
