Articles on Inventory Crunch in Manhattan

Low Inventory Levels Cause Prices in Brooklyn to Shoot Up

Low Inventory Levels Shoot Up Apartment Prices in Brooklyn

Brooklyn, long seen as the less expensive New York borough when compared to Manhattan, could soon be losing that reputation as prices for apartments in the borough shoot through the roof thanks to a market that’s running short of inventory. Although there’s a lot of demand for homes in Brooklyn, home hunters in the borough are finding that there just aren’t enough vacant apartments for them to move into, thereby giving sellers the upper hand in an increasingly tight real estate market.

NYC: Buying Apartments Before They Are Built

New York City real estate trend: Buying luxury apartments before they are built

With residential real estate inventory levels as low as they are in New York City, it seems that people on the lookout for luxury condominiums in Manhattan are now willing to put their money down for homes even before they are actually built. With the demand for apartments showing no signs of diminishing, and the number of actual apartments for sale still at a minimum, people are now putting their hopes for new homes in the many new buildings that are rising up around the city. Besides being very impressive in their design and architecture, these rising structures have also managed to command top dollar in an increasingly competitive real estate market.

Manhattan Apartments See Highest Quarter Sales Since 2008

Manhattan's real estate market sees highest quarter since 2008

As autumn makes its chilly presence felt in New York City, the skyrocketing prices of the city’s real estate have also cooled down (finally!). After a rollicking summer that saw eye-popping prices being asked for several homes in Manhattan, real estate reports from the third quarter of 2012 say that the prices of condos and co-ops have remained more or less the same, with only a few real estate firms showcasing an increase in prices. This is especially true in the lower and middle end of the market. However, Manhattan apartment sales have continued to rise, reaching a level that is the highest quarterly total since the financial crisis began in 2008.

A Pinch and A Squeeze: Will Fewer New Luxury Condo Buildings in Manhattan Lead to a Rise in Condo Prices?

Rising prices in New York's luxury condo marketAnyone who has spent any time wandering around Manhattan's former real estate hot spots over the past year has probably noticed the relative dearth of new construction residential projects, but people notice a lot of things wandering around Manhattan. But while there's no hard data proving that everyone on the Upper East Side owns a tiny dog, say, the where-have-all-the-new-construction-condos observation turns out to be right on.