The Manhattan Property Inventory Report ... About the numbers

The Manhattan Property Inventory Report ... About the numbers

So I've been asked why the numbers don't seem to jive.... And your right, they don't. At least on 1st glance. The important thing is to eyeball the chart which will give you a visualization of the market. The tabular #'s is where there seems to be inaccuracies. For instance below is the last two days data.You can see that 0n 5/27 thae active total was 4866. The next day 9 new listings came on the market, and 3 new contracts were signed, and 5 properties went off market. So logically that should equal a new # of 4867 and increase of one active unit. So why does the table show 4855, a drop of 11? The answer lies in what you don't see. There are a number of other variables that

o into the algorythm. According to Noah Rosenblatt, who is the chief cook and bottlewasher over at Urban Digs (that's where we get out data from) everyday these things happen...

"1. there are listings that violate our "staleness" algo and are removed from ACTIVE because broker didnt update in past 30 days.

2. there are ACTIVE listings that close, that the broker never updated to CSGN (contract signed), yet the ACRIS filing came in. Those are removed.

Things like that go on. It wont be 1:1:1 between active:csgn:offmkt due to dozens of little rules like the two above that were put in place years ago as we discovered different reasons why data was in the wrong bucket, or going stale."

So there you have it, our calculators haven't malfunctioned, and you can trust the numbers!