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Three Cents Worth: Listing Inventory Life Cycle

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[This week, real estate appraiser, Curbed graph guru, and podcaster extraordinaire Jonathan Miller contracts Seasonal Inventory Disorder.]

Click to expand!

Last week I looked at weekly inventory levels for pre-war and post-war apartments since the end of 2008. This week I expanded the analysis to break out listing inventory by number of bedrooms (and bring back my ovals) and note the periods that saw some of the more notable changes in activity up through this week. I excluded 4+ bedrooms because the data set is so thin and the numbers were all over the map as a result. To the observations!

- No obvious differences in patterns by number of bedrooms, although there was a sharp decline in larger units in the second half of this summer.
- Labor Day and New Year's see most rapid changes in inventory levels in a short period of time.
- The decline of inventory over the last two spring markets were similar but the reasons behind them were very different (weak sales, strong sales).
- The spike in Labor Day and New Years inventory in 2010 was more pronounced than in 2009.
- The summer of 2009 saw larger declines in overall inventory than the summer of 2010.

Even with the manic housing market of the past two years, seasonality still shows up to the party.
· Manhattan Co-op/Condo Listing Inventory M-O-M % Change [Miller Samuel]
· Three Cents Worth archive [Curbed]