Should i traditionally expect for a considerable amount of new sale listings to come on the market in September?

should be raining properties

If past performance is any indication of future results, then yes.

http://www.urbandigs.com/chart.php?s1=Active&s2=&mindt=09%2F01%2F2011&maxdt=08%2F31%2F2012&t=Market+Trends&interval_mindt=2008%2F01%2F01

Thank You. I'll hold off in making offers until october then

I've had certain clients waiting each Spring and Fall the past two years for the "rain" to start, and it hasn't happened. History is a good guide, but the last two years have not seen the normal amount of new properties hit the market. Perhaps a healthy sales market this summer and an insane rental market will prove me wrong, but I just don't see it this Fall. If you see something you love, or can love with a bit of work, jump on it..l

Mets79, that doesn't sound like brokerspeak at all!

Fair enough bjw. But Its true! I wish it weren't...I'd have a lot more happy buyers. And I would spend less time showing apartments.

But it's cool; I was around in 2007 at the height, 2009 when it was brutal, and now we're back to a pretty strong market due to lack of inventory. People are selective (at my price point, at least), mortgages are going to the qualified (thank god), and people are looking at property as a home instead of a commodity (again, at my average sales point). I like what I do. And I like doing it now moreso than in 2007. Then again, I worked for someone instead of myself in 2007....

OP - there are two periods in Manhattan when we see a nice batch of supply come on market and back to market. First is in the beginning of the active season every calendar year (think Jan through April). Second, is after labor day in Sept & Oct. Here is Manhattan new monthly supply totals since 2008 so you can see the trends for yourself

http://urbandigs.com/chart.php?k=b68bcff69282b6cddfc0c6bf830f3188

Yes. Already some new 3+ brs on the UWS market.

first off, u need a sustained correction in equities to occur and all the media effect and secondary elements that lower buyer confidence that typically comes with it..commodties selloff, dollar rises, vix rises, etc. second, you wont see an impact in price action right away. That may take months as sellers adjust to a buyer that is not bidding as aggressively...so the first thing that will happen is a decline in general volume, pending will fall, supply will rise and off-mkt likely will rise too. deal vol falls because buyers are now pricing in a downside risk to manhattan property that may not have happened yet..the reports and the comps still look strong, but real time in the field, sellers r no longer getting those bids. So expect deal vol to fall rather immediately once we really see a decline in equities take hold, and then expect decline in comps/reports like 5-6 months later.

should have added...fairly close. as equities slowly rose up to current levels over past 3 years, manhattan re did the same. i dont think we would have seen the sustained action we saw this yr if equities didnt march on the way they did from the abyss from early 09.

the question was fairly clear that the comparison was between US equity trends and Manhattan real estate.

"should have added...fairly close. as equities slowly rose up to current levels over past 3 years, manhattan re did the same."

You do realize that Manhattan RE is only up 10% from its cherry-picked 2009 low, while for equities it's been 110%, right?

i didnt say it was a 1:1 correlation in % chg from cherry picked low to today. i figured the OP was just talking trends here understanding that a pop from the exact bottom for equities is likely to be much higher than a pop from the bottom for manhattan re prices, given trend in housing everywhere else and where the fed/govt poured liquidity into. but thats just me, maybe the op can clarify if was asking if the trend with equities is a 1:1 ratio with the trend to manhattan median price trends OR how closely the general trend of Manhattan real estate fundamentals tracks with broader stock market trends.

hunters -- broader manhattan trend, prob close to 10%-12% like ionada says. But break it up between price points, whole different story. So I guess the question is whether you care what kind of property is selling compared to its 2007 high?

w67th - granted rates will rise, but will it really be destruction during the first phase of that reversal? Rate have been declining for what, 30 yrs now? secular bull mkt for treasury bonds at or near its peak right now? when it turns, even if its fierce at first, 10yr goes to 3%m, lending rates in general rise from 3.6% to 5%. So now, are rates rising because

a) faith in US treasury bonds are eroding?

or

b) economy is picking up steam/inflation expectations rise?

or

c) stagflation?

if its (b), i have a feeling alot more people will have buying power and can deal with higher rates without any ill effect on struggling housing markets in much of the US. if its (a) or (c), we're fucked.

I expect a flmazozzzozndopzzz remark in about 37 seconds

"Oh come on, can't you just give me a simple answer?"

ok, we're close.

I would expect some new product to come on line in September. Sellers know the two best season to sell are Spring and Fall(and in that order). If we're talking outside Manhattan there is another dynamic foreclosure inventory and the banks are only beginning to ramp back up the machinery after the farce of a settlement between the banks and the A.G.'s and Treasury.

@ Urban, The New York market is being held up by foreign money. Just compare NY to Greenwich. Both are beneficiaries of Wall Street yet only Manhattan has the foreign interest.

ahh, i remember why i stopped coming here

How about in Brooklyn, where I've been looking? the market has gone through the roof, price wise, in the last 6 moths after steadily rising for years. But in the year we have been looking, we've seen prices in certain neighborhoods (clinton hill, ft greene, park slope, cobble hill, boerum hill, carroll gardens, greenpoint, prospect heights, even bed stuy and crown heights) go from in, to just outside, our range. Not only that, inventory has been close to zip. So kind of wondering what to expect come fall...

"Inventory will not go up until prices go up. Prices are not going up because the economy blows in NY. "

Agreed. I've seen the surveys saying folks are waiting for prices to rise to list. If that is the case, it could be hard for prices to recover for a long time.

"the market has gone through the roof, price wise, in the last 6 moths after steadily rising for years."

Huh? Not quite sure where you are getting these stats from, they're completely wrong.

Per miller samuel, median c0-op value is currently lower than the same time in 2007, 2008, and 2009. Condos are below 2007 prices. 1-3 family median is the lowest since... well, Miller Samuel started recording.