New Inventory Neighborhood Chart
Posted by Noah Rosenblatt on January 22, 2007 at 9.50 AM
A: Im sure most will not find this that useful but I was just curious as to how many new units hit the market in the past 7 days per neighborhood. Obviously it would be best if I can find the time to do this weekly so we can monitor any trends, but for now I was just wondering where the most/least supply is coming in.
# NEW LISTINGS PER NEIGHBORHOOD IN PAST 7 DAYS
Again, not the most useful of posts to apply to real estate investing but I just wanted to see how much supply actually hit neighborhoods like the UES & UWS compared to other neighborhoods in the past 7 days. Okay, I feel better now.
Comments (5)
Does this mean that, with so much supply on the UES and UWS, it's a liability to buy up there? Or is that a simplistic view?
Posted by jane | January 22, 2007 7:50 PM
Jane - Not really. The UES & UWS are much larger designated neighborhoods when it comes to the listings systems and cover a greater area of residential property's than say W Village, SoHo, tribeca, or any other smaller neighborhood.
So, its not surprising that inventory here is on a greater scale; its all relative. I wouldn't consider this report as any evidence that supply in these 2 neighborhoods is far exceeding demand.
Posted by Noah | January 23, 2007 9:47 AM
This doesnt tell us much other than large neighborhoods have large inventory changes.
That said, one thing this does tell us is that smaller neighborhoods may have an 'exclusivity cost' since theres a much lower inventory changes. This probably gets trumped by the particulars of the unit and the trendiness of the neighborhood. It goes the other way too- no one really cares if theres only 3 apts for sale near the corner of Mugging Ave and Carjack street,
Posted by drtomaso | January 23, 2007 10:14 AM
Hello Urbandigs - do you have Feb Inventory data?
Posted by Steve | March 21, 2007 5:21 PM
the numbers might be more accurate if we chop UES and UWS to smaller chunks, like Lenox Hill, Carnegie Hill, and Yorkville for UES, then Lincoln Center, manhattan valley etc for UWS...
cuz i think Yorkville's listings always stay longer on the market due to inconvenient subway access
Posted by J | April 2, 2007 2:45 PM