Does inventory matter to price....

Manhattan or Greenwich, CT?

Manhattan. Was surprised to see the SE condo index fall as we got into march and April.

Manhattan. Was surprised to see the SE condo index fall as we got into march and April.

"DOES INVENTORY MATTER TO PRICE.......if we have reached a point where buyers just won't bid them up any more? "

All other things being equal, yes.

I'm just saying are we beginning to see a limit on how much buyers are willing to push up price regardless of how little inventory there is. There was every reason to expect that price increases would be demonstrated by the March and April streeteasy data, and they weren't. Does buy/rent math at some price level just get buyers to a point where they just wont pay more. Are we seeing that point?

I'm just saying are we beginning to see a limit on how much buyers are willing to push up price regardless of how little inventory there is. There was every reason to expect that price increases would be demonstrated by the March and April streeteasy data, and they weren't. Does buy/rent math at some price level just get buyers to a point where they just wont pay more. Are we seeing that point?

Keep in mind one thing.

Inventory --> realtime measure, as in daily it updates
SE Condo Index --> set to 60 day lag i believe
Closed Deal Pace --> should be set to 60-90 day lag

So, ur not really comparing apples to apples on the same timescale. I think an Active Inventory to Pending Sales ratio would be useful to catch what you are looking for. Then a look at DOM and deal vol to confirm the conclusion.

The new UD will have active to pending ratio charts and dom and 10 other chart types. Im giving the tools to a few top firm customers of mine next week to do final beta testing..then ill push the site live 3-4 weeks later after all little things r fixed.

another thing i wanted to mention...its also possible the SE Index is falling out of simple model dynamics. Like stocks, the higher it goes the harder it is to sustain the pace. There may be gaps here and there. Does not necessarily mean that in the field right now buyers are starting to get more leverage, negotiability or discounts due to it. I continue to see todays market as very tough on buyers. Also, we had a massive inventory BUG from our RLS data provider when our feed went out for 9 days late may, and we got a data dump starting May 29th.. We fixed the issue on our dev site and will soon apply it to our live UD. But we show supply much lower after the fix, in the mid 3500s.

1. if I read it correctly, SE's index showed price/sq.ft. steady or up
2. it seems to have been distorted by fewer sales of high end aots

3. it might also have been distorted by winter's brutal weather, which
reduced the number of shoppers ad open houses

Do they include outliers? I thought they didn't, although that might be miller.

Rhino and aboutready talking about price trends is like Cheney and Kristol talking about what we should do in Iraq...

"Do they include outliers? I thought they didn't, although that might be miller."

Once again, not sure.

I'm fairly certain both don't include outliers but I'm too lazy to look it up. Do you know? Either of you? Do you have anything to offer about the topic.? Reallynow, you're not so really now. Or then.

Fairly certain, but maybe not. Too lazy to look it up, so easily can later say you weren't wrong because you didn't look, then its the other person's fault, not yours. Maybe, I guess, possibly not, depends.