For this analysis, we will be defining Washington Heights as the area between 47th Street and 60th Street, with Lloyd on the north and Vliet on the south. As of 9/11/2007 there are 47 single family homes listed for sale in Washington Heights. Of the listed homes, 5 are pending. It is interesting that, though 5 are pending, none currently have accepted, non-pending offers. The lowest priced home is $79,900 (located on 48th Street) and the highest priced home is $335,000 (located on Washington Blvd.). Over the past year, 36 homes have sold in Washington Heights, resulting in a monthly absorption rate (i.e., average number of homes sold per month) of 3 homes. Given that there are currently 5 pending listings, there is a current inventory level of 15.67 months, meaning that it would ...
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