There has been remarkably little YTD improvement of available co-op/condo supply in Manhattan. This chart reflects co-op, condo and townhouse supply (existing + new dev).
While we are now seeing a little more inventory enter the market, sales are outpacing prior year levels erasing any meaningful gains in supply. This chart illustrates how flat supply has remained in 2013.
I found in Bergen County New Jersey historically the inventories raises as Memorial Day passes. The slowing in sales and the increase in listings that finally hit.
Inventory is everything. Fortunately we had good inventory in the first half of 2013 for the Miami neighborhoods that I serve: Coconut Grove, Coral Gables and Pinecrest. However, as we approach summer, our inventory traditionally makes sales flat as well.