Co-op prices a mixed picture.

According to a report issued by Brown Harris Stevens, cooperative prices in 2001 are a mixed picture. An analysis by the company indicates that average cooperative prices for 2001 are generally higher than for 2000, in Manhattan's most expensive neighborhoods. The analysis of available listings indicates that the increase in availability that we noted earlier this year appears to have stabilized. However, analysis of a number of individual transactions indicates that prices are falling, relative to the peak prices obtained in the middle of last year.

Other findings were that, while the overall average cooperative price to date for 2001 is slightly lower than last year's average, the averages are actually higher in most apartment-size categories. While the 2-2.5 room average is based on too few transactions to be considered reliable, the 3-3.5 room average is 33% higher, the 4-5 room average is 17% higher, the six room average is 11% higher, and the 7-8 room average is 14% higher. Only the average price of the largest, 9+ room apartments, is lower than last year's average, by 14%.

Since the market appreciated substantially during the first 5-to-6 months of 2000, these figures indicate only that prices are generally higher than the averages for 2000.

They do not indicate whether or not prices have declined from their peak, in May or June of 2000.

Whereas in previous analyses, the company has noted an increase in available inventory, this trend appears to have stabilized as of Aug. 1. On the Upper East Side, between Fifth and Third Avenues, our listing system indicated 373 cooperative listings that were updated within the prior three months. Earlier this year, the number had risen to over 400. By the same definition, the number 'of Upper East Side condominium listings also declined, by approximately 23% from its peak in April and May.

For specific apartment-type categories, the level of available inventory has varied.

As of the beginning of August, there were only twelve 7-8 room pre-war cooperatives available on Central Park West, more than at the beginning of the year, but fewer than in April, May or June.