Greenwich Mansions Slash Millions, Still Sit Unsold
Record High Inventory Scarcity In an unparalleled shift, inventory levels in the luxury real estate market show a clear gap between supply abundance and high-value niche scarcity. This emphasizes dramatic regional differences. Inventory strategies face challenges, with new listings surging 33% in January 2025. However, momentum slowed to 17.9% by February. Economic uncertainties fueled by new tariffs have led to buyer hesitance, complicating inventory dynamics. Despite a general inventory rise, areas like San Mateo and Santa Clara are struggling. Inventory in these places is under two months. A housing inventory crash in major markets further highlights the issues of availability and affordability, affecting even high-end sectors. Pricing tactics are crucial in markets where luxury properties remain unsold. Even regions with improved inventory, like Southern California, have their limits. Prime areas there have only 2.5–3 months of availability. This highlights the tension between gr...