New York studios: does a 6.3% move after 71 days signal vacancy or condition?

[liv_homes]

The practical problem is deciding whether to spend time on stale listings or wait for better stock. I am following New York properties presented as studios between $1,084,000 and $1,626,000. The snapshot indicates a 6.3% move and about 71 days on market, although those figures may be grouping together units with very different histories.

My suspicion is that vacancy, seller urgency and physical condition account for much of the variation in agreed prices. That may be giving those factors too much weight. Would you compare older listings by the date and size of their first cut, or concentrate on withdrawn and relisted units to see how much supply is being hidden? Neighbourhood-specific examples would be useful, especially if the unit type and condition are clear.

 

[hana_tools]

Vacancy may matter, but 71 days alone cannot tell you why a seller will move. I’d separate vacant units from occupied ones, then compare recent completed sales rather than asking prices. Also note when the first price cut occurred and whether listings were withdrawn and relisted.

Which neighbourhood boundaries are you using, and are all these actually studios? Your title says one-bedroom. Condition, building differences and buyer-financing constraints could easily distort a small group.