NYC Living Reality

Three Cents Worth: Inventory Drops Like a Rock

NYCLR Office — Tue, 12 Jun 2007 18:53:40 +0000

This spring has been one of the more active Manhattan real estate markets I have seen in a few years, contrary to much of the rest of the country. The high number of sales have eaten into inventory levels bringing them in line with the average for the past five years. Total Manhattan co-op/condo inventory at the end of May 2007 was 5,456 units, down 25.7% from May 2006 and down 11.7% from April 2007. Inventory levels at the end of May of 5,456 units is actually below the 5 year average of 5,598 units, which includes the recent peak of 2006 (June 2006, 7,640 units) and trough of 2004 (December 2004, 3,922 units).

This week I presented total inventory levels of Manhattan co-ops and condos each month (purple). Rather than expressing co-ops (pink) and condos (blue) as a percentage change from the same month in the prior year, I used the actual change in the number of units to give a more granular presentation of the shift in inventory. Co-ops dropped 337 units from the prior month and condos dropped 389 units.
· Manhattan Total Co-Op/Condo Inventory [Miller Samuel] From Curbed.com

About NYC Living Realty

NYCLR Office — Fri, 08 Jun 2007 19:12:41 +0000

“NYC Living Realty is one of New York’s premier full-service residential brokerage firms. Serving buyers, sellers, renters and developers, we are committed to exceeding the expectations of our clients.” That’s the tagline from our website, more importantly, in my own words, we are very educated on all the goings/doings of the city, from the hot condo and coop properties, to who’s rental properties rent for what and we use all of that to help out our clients. Also, we know (and I compiled) a great list of the New Developments in Manhattan, so feel free to contact us.

The Beginnings of a New Blog

NYCLR Office — Wed, 31 Dec 1969 17:00:00 +0000

Welcome everybody and anybody. These are my first days as a “blogger” and I will try my best to inform, educate and entertain all of you. I am Adam A. Hirsch and I am the Director of Operations for NYC Living Realty, a Residential Brokerage Firm specializing in Manhattan Apartments. Just in case, you would like to read more about me or my blogs, please feel to check out either adamahirsch.com, my personal website or adamhirschblogsabout.com, my personal blog.