September in the Books...So How Are We Doing??
A: Got a busy next few days ahead so now that September is in the books, Ill just give you a few of the latest updates to our Manhattan Monthly Market charts. The skinny is, pace of new supply is still lagging and pace of demand is right on par with September of 2010 - which is anemic but normal for this time of year. October is usually the time that we see a month to month uptick in demand, as last year saw a 28% rise in monthly signed contracts from September to October. Hopefully we follow that same pattern in 2011, but as of now the 30-day pace of new deals signed is still below the 600 level. Even though supply is up, its not rising nearly as much as it did post Labor Day in 2010 - a sign that we need more quality, well priced listings to hit the marketplace. As for my business, I continue to have buyers that are frustrated with the lack of options in their submarkets.
Manhattan Monthly Contracts Signed chart (showing how many listings went into contract by month):
Manhattan Monthly New Active Listings chart (showing how many new and back on market listings hit the marketplace):
For full access to all real time analytics including the daily Manhattan market ticker, neighborhood inventory trends, submarket inventory trends, the latest sales prices, and more, please subscribe here.
We are working on some new upgrades to the UD tracking platform and plan to release Co-op, Condo, and Townhouse inventory chart options in the next 3-4 weeks. If there are charts for the Manhattan marketplace that you would like to see but are not available either here or elsewhere, please email me any suggestions. We got some great new tools in development but as always, user feedback is greatly appreciated to make this site better and better.