The the graph above from Streeteasy.com illustrates the supply of available condos, co-ops, and houses in New York city over the past decade. We’ve had a major construction boom in NYC over the last decade that has caused sales inventory to rise. All of this new inventory on top of resales (older properties) has created a buyer's market in many parts of the city.
Right now in October 2019, NYC has a little less than 20,000 residential listings on the market, a slight decrease from earlier this year. Sales inventory is the highest in Manhattan, followed by Brooklyn and then Queens. Sales inventory could continue to increase over the next couple of years. Contractors and developers in NYC filed for nearly 166,000 permits in 2018, according to the Department of Buildings.