The Reel

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A blog for breaking sales and neighborhood real estate news.

Late last year, my company made the prediction that the NYC investment sale listing inventory would jump by as much as 30% this year. We felt that after the inventory plunged in 2009 and flat lined in 2010 and 2011, that there would be tremendous pent up demand for owners to sell once again. It hasn’t happened, and our listing inventory has remained flat.

Back in the height of the market in 2007, our company had over 750 exclusive listings. Not surprisingly, that number fell to about 500 in 2009, as long term owners didn’t want to sell at a discount and recent owners couldn’t afford to sell and get out from under. That same year, NYC property sales were in a free fall dropping to only 1,436 sales which was down over 70% from 2007’s peak of 5,018.

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