thecorcorangroup: manhattanmonthlymarketsnapshot November 2012
Marketwide Summary
Strong demand and a seasonal dip in new listings continue to drive inventory down. Condo and co-op inventory are decreasing at similar rates, down 7% from last month and 24% from last year.
Despite the dearth of available listings, contract activity is up from last year for both condos and co-ops. Tight market conditions are limiting negotiability evidenced by the continued decline in discounts from last ask to sale and the return of buyers offering above asking prices.
Marketwide Summary
Strong demand and a seasonal dip in new listings continue to drive inventory down. Condo and co-op inventory are decreasing at similar rates, down 7% from last month and 24% from last year.
Despite the dearth of available listings, contract activity is up from last year for both condos and co-ops. Tight market conditions are limiting negotiability evidenced by the continued decline in discounts from last ask to sale and the return of buyers offering above asking prices.
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