[click to expand]

Absorption defined for the purposes of this chart is: Number of months to sell all listing inventory at the annual pace of sales activity. (The definition of absorption in my market report series reflects the quarterly pace – nearly the same)

I started this analysis in August 2009 so I am able to show side-by side year-over-year comparisons. The blue line showing the 10-year quarterly average travels up and down because of the change in scale caused by some of the significant volatility seen at the upper end of the market. The pink line represents the overall average rate of the most recently completed month.

Side by side Manhattan regional comparison:

February 2013 v. February 2012


[click images to expand]

Although everything seems to be absorbed at an historically fast pace, co-ops are generally being absorbed more slowly in nearly every price segment below $5M.


Manhattan Market Absorption Charts 2013 [Miller Samuel]
Manhattan Market Absorption Charts 2012 [Miller Samuel]

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2 Responses to “[Manhattan Absorption] February 2013 Shows Not Enough Supply To Wet A Sponge”

  1. […] we are seeing more inventory coming on the market recently, but as Jonathan Miller put it in this terrific article, the sponge is hardly getting wet, referring to the lack of inventory to be […]

  2. Numbers to Know: 150 Charles Street, rentals near the subway … and more – insiderater.com says:

    […] 4.6 Months it would take to sell all the available condos in Manhattan listed between $1.5 million and $1.99 million [Miller Samuel] […]