The PDF version of the 3Q 2007 Manhattan Market Overview [Miller Samuel] that I write for Prudential Douglas Elliman is available for download. I have been writing these market reports for them since 1994.

In addition, you can see the methodology that went into the report including the neighborhood boundaries and the type of content we have available.

You can also build your own custom data tables using the aggregate report data (from 1Q 89 through 3Q 2007) and view a series of quarterly market charts, most related to the current market report.

An excerpt

…Manhattan remains contrarian, but with reasonable expectations The high level of sales activity, combined with declining inventory levels, listing discounts and marketing times has not resulted in significant price appreciation year to date. This suggests a market psyche containing reasonable expectations of both buyers and sellers. This is a significant departure from the contentious conditions between market participants seen in the past several years, evidenced by patterns of sharply rising prices and declining sales. Buyers were being priced out the market and sellers had been conditioned to a rapidly appreciating market over the prior five years. In addition, Wall Street mortgage and credit market problems that appeared in mid-July and August have yet to show an impact in market data for the current quarter. Existing mortgage underwriting guidelines have become more strictly enforced with fewer exceptions allowed. A lower number of mortgage options and higher qualifying requirements for buyers is expected to temper the flow of sales activity…

Download report: 3Q 2007 Manhattan Market Overview [pdf]



3 Responses to “3Q 2007 Manhattan Market Overview Available For Download”

  1. John K says:

    OMG, is capitalism WORKING in NYC??? Supply and demand and all that? Seems to be.

    What a beautiful thing it is!

  2. THX, JM. This took an unusually long while to come out as the full report, didn’t it?

    Questions about “inventory”…. I see you define it for Manhattan as “listing inventory is collected by surveying the exclusive listings of top Manhattan real estate brokerage firms”.

    Can you say whether this includes substantially all the new development? Would it include developers such as Clarett Group, for example, which markets its own properties (e.g., 11 E 29 St)?

    You include listings “in contract” (but not yet closed) as part of inventory, no?

  3. Jonathan J. Miller says:

    yes it did, but the data and charts have been up since release. The same mwthodolgy for the 8 years we have collected them.

    Uc listings are included if they are classified as available. Includes new dev sales on market, but doesnt included units not yet offered.