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Co-ops and Condos Can Share

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[This week, real estate appraiser, Curbed graph guru, and podcaster extraordinaire Jonathan Miller wishes he was out on his boat.]

Click to expand!

It's Friday and admittedly this chart is long on color and short on numbers, but it's sunny and 77 degrees outside so whatever. This week I matched up number of sales and listings by market share post 9/11. (I'm not including new development condo shadow inventory in the analysis because its a recent phenomenon, although it will be a significant factor going forward).

It's no secret that co-op market share held sway over condo sales for as far back as anyone can remember, and the recent mid-decade housing boom brought parity to co-op/condo sales and listings, allowing condos to cross the 50% threshold versus co-ops circa 2005-2006.

Despite the problems with new development (condo) sales over the past 18 months, re-sale market share has remained at roughly 50/50. In other words, activity for both sales and listings has remained about equal after the market correction. Whatever that's worth. Sorry, I'm busy making art with my mouse.
Manhattan Co-op/Condo Number of Sales/Listings Market Share [Miller Samuel]
· Three Cents Worth archive [Curbed]