The Market for ManhattanWest Holds Strong

Condominium Inventory in ManhattanWest’s $250K-$500K “sweet spot” dropped more than 5% in June.

This is a substantial drop and means that the market not only started to stabilize in June, but that the previous trend of inventory build-up actually reversed. Buyers purchased more condominiums in this price range than sellers put on the market. If the trend continues, inventory will keep going down. Lower inventory means less competition, higher buyer confidence, and eventually higher prices.

Condo Inventory between $250 and $500K Dropped More than Inventory Outside That Range

Inventory priced from $250K-$500K dropped more than three times as much as inventory outside that range. The vast majority of ManhattanWest inventory is in this “sweet spot”, the best performing segment of market.


You Can’t Lump Condo Data with Single Family Home Numbers

The press tends to bury good news about condominiums in the middle of negative articles about the market as a whole, but the numbers speak for themselves. If you want a true picture of the market you must separate condominium data from SFR numbers.