Skewed inventory

There are no new co-ops being built, only condos. Those new condos are usually starting at 1 million unless it is a studio or non-prime Manhattan. So unless something causes many people to want to leave the City and create vacancies, I'm not sure how the under 1 million supply can go up.

@ Nerve .... that's great info

I think there's something more going on in addition to new build condos. It looks like the supply of coops is lower than in 2013 or 2014 and I'm not sure what is reducing supply. The overall number of coops has to be close to flat. None are being built but none are being demolished or converted to condos either so it must reflect a reduced number of owners wanting to sell but I'm not sure what could be driving this and to your question what could cause that to increase.

REBNY Uptown Expo (Harlem/WaHi/Inwood) is May 2 and 3 -- I expect to have a new listing of a 2-BR/2-BA in Central Harlem, and I assume other brokers will be bringing on listings in the area as well.

ali r.
{downtown broker}

Hello front_porch, condo or co-op? under a million?