According to data from Vanderbilt Appraisers, Manhattan’s residential
total absorption rate is currently at 12
months. The absorption
rate is the amount of time a market would take to sell all its
available inventory. When units are broken down by price, the typical time it takes to sell an apartment increases as prices rise. The absorption rate for
condo units between $1.5 million and $2 million is 8.5 months, while
the rate for condos above $6 million is 21.6 months. Co-ops between
$1.5 million and $2 million are at a rate of 10.8 months, and co-ops
over $6 million are at an absorption rate of 24 months.
total absorption rate is currently at 12
months. The absorption
rate is the amount of time a market would take to sell all its
available inventory. When units are broken down by price, the typical time it takes to sell an apartment increases as prices rise. The absorption rate for
condo units between $1.5 million and $2 million is 8.5 months, while
the rate for condos above $6 million is 21.6 months. Co-ops between
$1.5 million and $2 million are at a rate of 10.8 months, and co-ops
over $6 million are at an absorption rate of 24 months.