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Three Cents Worth: On the Listings Rollercoaster

[Time for your weekly dose of market analysis. This week, our graph guy Jonathan Miller examines just how far inventory has fallen. Click on the image to expand.]

One of the big real estate stories at the end of the 2006 was the drop in overall apartment inventory. Current totals (green columns) are approaching levels seen in 2002 and 2003. However when inventory is broken out by co-ops (blue) and condos (red), it is clear we are not out of the woods yet.

Co-op inventory has fallen 25.6% from its recent high in July and is about 11% below its 4-year average. Condo inventory has fallen 26.9% from its September high, it is still roughly double the levels seen from 2002-2005.
· Manhattan Co-Op/Condo Listing Inventory [Miller Samuel]