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CORE Real Time Report Released

Uncategorized // Jan 13, 2009

The Monthly CORE Real Time Report is the first of its kind in the Manhattan residential market. It is an analysis of real-time information that tracks current contract pricing and absorption. This report is different from other published reports because it reflects existing contract data, not sold and closed data, which often takes months or years to be recorded. In order to get an accurate snapshot of the current market, contract data is the most pertinent information. Sold and closed data reflects historical market information and cannot be accurately attributed to a specific time in the market due to the nature of the length of a transaction. This is further skewed with new development transactions which can sometimes reflect more than a two year period from contract signing to closing. As is the case with all residential reports, the accuracy of this report is not 100%, but this is a very reliable snapshot of current market conditions. The information in this report is gathered from numerous sources and includes parameters in Manhattan below 96th Street and does not include new development data unless otherwise noted.