Mid-March Check: Manhattan Real Estate Ticker

Posted by urbandigs

Tue Mar 15th, 2011 09:38 PM

A: Many asked, so here it is. This is a snapshot of the Manhattan real estate ticker as of 10pm March 15th. There are still plenty of bids out there as evidence by the 7-day and 30-day CONTRACTS SIGNED row. Check it out.

The Manhattan Real Estate Ticker

March-ticker.jpg

For newbies, the UrbanDigs Manhattan market ticker counts all the notable REBNY exclusive listing status changes as they occur in real-time. If you ever wondered how many contracts were signed so far today, this is your tool. It updates up to 7x a day as all REBNY members update their exclusive listings. As you can see by the above snapshot, it also tells you:

YEST --> Yesterday's total capture
7-DAY --> A 7-day moving total
30-DAY --> A 30-day moving total

To see 304 new contracts signed in the last 7 days is very encouraging. We should also note that the pace of new active listings has been rising the last week or so; another welcome trend for buyers out there frustrated with the lack of well priced quality product. Hopefully some new stuff recently made its way to market. As of now, current demand is tracking very nicely with new supply as this 'active season' continues to be, active.

Since contracts signed data is also lagging, representing the end result of weeks of negotiations and attorney due diligence, any meaningful change out there that may be happening today will have to wait a week or two to show up on our ticker. As it stands now with 982 signed deals in the last 30 days, this market will have to stay hot to maintain these levels.

Year to date, the 2011 Manhattan Market trends are (click the links below for some free charts):

Active Inventory --> UP 10%
Pending Sales --> UP 14%
Pace of Listings Being Removed From Market --> DOWN 11%

The data doesn't lie!

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