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New York

Inventory down 19 percent nationally: report

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The total number of residential listings fell 19 percent nationwide in August, compared to the same period in 2010, according to data from Realtor.com. There were 2,267,327 residential units listed in the United States in August, which represented a 1.9 percent drop from July. New York City inventory fell just 2.4 percent in the same period. The average listing price for U.S. properties was $320,325, an increase of 2.6 percent from August 2010. The data also shows the average U.S. property has been on the market for 103 days.
— Alexander Britell

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