UWS has just five months of active listings

TRD New York /
Jan.January 07, 2013 12:00 PM

The absorption rate on Manhattan’s Upper West Side is a whopping 33.4 percent, meaning that the supply of listings could run dry in just five months. That neighborhood has the highest absorption rate of the five neighborhoods — the Upper West Side, the Upper East Side, Midtown West, Midtown East and Downtown — tracked in a new Marketing Directors report.

On the Upper West Side, there are some 329 current, active listings. The Downtown market has the next highest absorption rate, 27.1 percent, with 606 available units of housing. There is enough supply in that neighborhood to last some six months. Downtown was followed by the Upper East Side, which has a 24.6 percent absorption rate, 404 active listings and seven months of inventory.

The absorption rate was lower in Midtown East and Midtown West, coming at 19 percent and 19.8 percent respectively.

The report details Manhattan inventory below 110th Street.

“Demand will definitely outpace supply, and this will have a real impact on how developers approach the market — from site acquisition all the way through to pricing and sales,” said Adrienne Albert, founder and CEO of the Marketing Directors, in a release that accompanied the report. —Zachary Kussin


Related Articles

arrow_forward_ios
VIDEO: Manhattan resi projects deserve “a fresh new look”

VIDEO: Manhattan resi projects deserve “a fresh new look”

Downtown to see 1,350 new condo units by 2016

Downtown to see 1,350 new condo units by 2016

Adrienne Albert

Day in the life of: Adrienne Albert

NYC sellers boosting residential asking prices

NYC sellers boosting residential asking prices

Gerringer leaving Elliman for Marketing Directors

Gerringer leaving Elliman for Marketing Directors

Market has bottomed, Marketing Directors CEO Adrienne Albert says

Market has bottomed, Marketing Directors CEO Adrienne Albert says

CBRE’s Steve Siegel says bid activity points to market recovery

CBRE’s Steve Siegel says bid activity points to market recovery

arrow_forward_ios