Matrix Blog

Analysis & Research

[Special Report] 1Q 2010 Manhattan Rental Market Overview

April 8, 2010 | 11:34 pm | | Podcasts |

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[Special Report] 1Q 2010 Manhattan Market Overview

April 6, 2010 | 8:53 pm | | Podcasts |

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[Interview] The Wealth Report 2010 Knight Frank, Andrew Shirley, Editor + Liam Bailey, Head of Residential Research

March 23, 2010 | 4:55 pm | | Podcasts |

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[Interview] Debra Taylor Blair, Owner, LINK Boston

March 9, 2010 | 1:50 pm | Podcasts |

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[Special Report] Brooklyn Market Overview 4Q 2009

January 21, 2010 | 1:27 pm | Podcasts |

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[Special Report] Queens Market Overview 4Q 2009

January 21, 2010 | 1:17 pm | Podcasts |

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[Interview] Rick Sharga, Senior Vice President, RealtyTrac

January 15, 2010 | 12:22 am | | Podcasts |

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[Special Report] Manhattan Rental Market Overview 4Q 2009

January 14, 2010 | 11:39 pm | Podcasts |

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[Special Report] Manhattan Market Overview 4Q 2009

January 11, 2010 | 10:10 pm | Podcasts |

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[Manhattan Absorption] Price Threshold For Balanced Absorption Continues To Rise

December 1, 2009 | 11:35 am | Charts |

Absorption defined for the purposes of this chart as: Number of months to sell all listing inventory at the annualized pace of sales activity.


[click image to expand]

The absorption rate continues to improve from a bottom up, approaching the 10-year 10.0 month average for all three market areas (the data set is too thin for a reliable trend for Uptown).

Observations

The East Side absorption rate slows considerably above $1.5M. Co-ops are considerably slower than condos above that threshold. Condos generally absorb faster than co-ops.

The West Side absorption rate has reduced in higher price segments, up to $3M. Co-ops generally absorb faster than condos below $3M but take much longer than condos above the threshold.

The Downtown market absorption rate has reduced in higher price segments, up to $3M. Co-ops and condos are consistent below the threshold but co-ops absorb considerably slower above the threshold.

View archive.

Note: This chart series does not include shadow inventory (properties ready for market but not yet listed for sale) so it understates condo absorption.


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[Manhattan Absorption] Price Threshold For Balanced Absorption Is Rising

November 17, 2009 | 6:38 pm | Charts |

Absorption defined for the purposes of this chart as: Number of months to sell all listing inventory at the annualized pace of sales activity.


[click image to expand]

It comes as no surprise by now that the lower price strata of the market is doing better than the upper end, primarily because of the divergence between jumbo and conforming mortgage underwriting requirements. Absorption has been better in the sub-million price strata than above $1M over the past year.

In other words, the surge in sales over the summer has increased the pace of absorption. The pace of sales increased relative to the amount of listings offered.

It appears that the trend is moving higher up in the price strata since absorption between $1M and $2M has improved in recent months. However, west side absorption for condo units has deteriorated on the west side with more new product entering the market than can be absorbed (especially sub-$500k).

I’ll update these charts monthly and have already created an archive. This chart does not include shadow inventory (properties ready for market but not yet listed for sale) so it understates condo absorption.


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[Interview] Bill Rayburn PHD, Co-founder, Chairman & CEO, FNC

November 9, 2009 | 10:24 am | | Podcasts |

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