The Manhattan Inventory Report for 6/9/2013

 The Manhattan Inventory Report for 6/9/2013
 State of the Market

And supply dips again to another new low. The last time inventory was this low was 1/16/13. Yesterdays data shows 5 more units disappearing from supply. There are 4713 units available for sale in Manhattan. The lowest recorded number in the last 5 years is 4491 recorded in Late December 2012.Todays chart shows a different perspective. This is a longer term chart going back as far as we currently have data for, 1/1/2008. Note that demand (Pending Sales, Blue Line) is at 5 1/2 year highs while supply (Active listings, Red Line) is at a level very close to 5 1/2 year lows. That is the reason why you are having bidding wars all over in the city and it is a perfect recipe for rising prices.
 It also must be noted that the 5 year low in Active Listings came at the slowest listing period of the year, just after the holidays. We are in the late in the spring selling season, inventory should be much higher.

The Manhattan Inventory Report for 6/9/2013

All data courtesy of Urban Digs