A quick morning check of Manhattan listing inventory yielded the following information:
- There are currently 7,784 active Manhattan property listings (inclusive of co-ops, condos and townhouses)
- Summer inventory: June saw 795 new listings, July 901 and August 1058.
- From Labor day to 9/8/2007, 65 new properties hit the market.
- Last week saw an additional 301 new properties hit the market.
Although there is a definite trend towards increasing inventory, anecdotal evidence is showing that many buyers remain frustrated as they patiently await their opportunity to buy. Patience is key here. With talk of a possible recession, the anticipation of weak Wall Street bonuses and layoffs, there could indeed be a buying opportunity right around the corner for many of these patient purchasers.