However (says Virginia), loft inventory numbers are different

Q1 06 loft data stronger than general market data

The loft-specific data in the Miller Samuel 1Q 06 Market Overview paint a very different picture about the vitality of the loft market compared to the Manhattan coop and condominium market generally.

Granted, the numbers are small, so they may not be the source for comfortable predictions but the contrast to the general market data is striking. Compared to the overall markets, the market for loft apartments in the first quarter of the year had:

ü       fewer days on the market (125 days for lofts; 138 overall)

ü       number of transactions up a bit Year-Over-Year (187 vs. 172 in Q1 2005) and way up Quarter-Over-Quarter (187 vs. 110 in Q4 2005)

ü       loft inventory is DOWN 28.1% Quarter-Over-Quarter and up only 4.6% Year-Over-Year (compared to the general market inventory up 15.8% and 59.6%)