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Three Cents Worth: 30 Days Hath September Inventory

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[This week, real estate appraiser, Curbed graph guru, and podcaster extraordinaire Jonathan Miller investigates the post-Labor Day listings bounce.]

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It's that time of year again, plus I've never used "hath" before so I thought I'd give it a try.

There's always hype surrounding the likely jump in available Manhattan inventory for the month of September, after the Labor Day weekend. Slow news cycles, people wrapping up their summer, sellers waiting until after the holiday, kids getting back to school?they all seem to provide a summer bookend for listing activity.

Since 2001, there has been an average increase of 9.5% from the end of August to the end of September (excluding shadow inventory), with the assumption that listing inventory will rise through the end of the year. Six out of the eight times that inventory rose in September, it also increased in October, but there was only a 4.4% average increase from the end of August to the end of December.

It's the first half of each year that should be of primary concern.
· Manhattan Co-ops + Condos Monthly Listing Inventory [Miller Samuel]
· Three Cents Worth archive [Curbed]