Over 10,000 Manhattan Listings

Also, over 400 new listings in the last two days. I don't recall seeing that high a number before, but I follow the new sales sort of sporadically. Still, quite a few.

UD widget only show about 9,500?

I follow the metric of only using those with an address. Still it literally spiked up like 300 listings in one day. I sort of feel like it was flat for a week or so with no movement and maybe there was some system issue as Streeteasy was updating its servers? This number was 8,800 on 12/31....

We found 9,766 listings with an address
Median price: $1,196,500 Median size: 1,143 ft² Median price per ft²: $1,126

Also on the 276 closings, that is also during one of the slowest months out there. to be fair, maybe the run rate is a little faster if you seasonally adjust. but no matter which way you shake it, A TON of inventory and growing rapidly.

10,000 Maniacs

What do you think the brokers' spin will be when it hits 10,000?

"But so little quality on the market!"

"Most of these units are owned by people who don't need to sell."

That number still doesn't include all the new inventory being completed - I don't have the figures, but probably a few thousand units just by looking.

There is no way to spin this - a 50% or more drop in price is needed to start clearing.