The Real Deal New York

Manhattan pads averaged just 73 days on the market in Q3

Inventory spike and bidding wars mark an uptick in post-Labor Day activity
By E.B. Solomont | October 06, 2015 04:30PM

From the October issue: The residential market is back from its summer break, and buyers and sellers who linger too long — or at all — could be left behind.

Just how quickly are units going? The average Manhattan pad spent just 73 days on the market during the quarter that ended Sept. 30, according to new data from real estate appraisal firm Miller Samuel. That’s down more than 20 percent from both the prior quarter and the same quarter in 2014. [more]