Manhattan housing inventory took a huge dip from December 2024 to January 2025—down 17%, according to a report from real estate data analytics company UrbanDigs. The report notes that’s the largest drop seen in more than 10 years, with total supply at lows not seen since 2016.
While that might seem like the definition of a seller’s market, the real story isn’t so simple. Both sides are feeling the squeeze, according to the report, as price-sensitive buyers shy away from high asking prices and sellers are stuck with “for sale” signs lingering out front.
