"Manhattan Real Estate continues to buck national trends"
"New study finds lowest number of units for sale in Manhattan."
While nationally the inventory of property for sale is up 14% vs last year, not so in Manhattan.
Zelman Associates, a firm that follows listing inventories and compares them to the "total housing units" in a market "to determine the current percentage of units that are on the market" found that New York has the lowest percentage of units that are on the market for sale of all the 55 markets it tracks.
While the national average is that 2.2% of the housing units that exist in any one market are currently for sale, in New York only .4% are up for sale..
Other cities with low percentages are Boston and Philadelphia both with .7% of their housing stock for sale, and Seattle and San Francisco, both with .9%.
Compare these percentages with some markets like Ft Meyers Florida where 8.3% of the housing units in that market are for sale or Miami where 4.9% are for sale.
While nationally the inventory of property for sale is up 14% vs last year, not so in Manhattan.
Zelman Associates, a firm that follows listing inventories and compares them to the "total housing units" in a market "to determine the current percentage of units that are on the market" found that New York has the lowest percentage of units that are on the market for sale of all the 55 markets it tracks.
While the national average is that 2.2% of the housing units that exist in any one market are currently for sale, in New York only .4% are up for sale..
Other cities with low percentages are Boston and Philadelphia both with .7% of their housing stock for sale, and Seattle and San Francisco, both with .9%.
Compare these percentages with some markets like Ft Meyers Florida where 8.3% of the housing units in that market are for sale or Miami where 4.9% are for sale.
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