It's Open House Season

1 visitor to my studio open house at 3 Hanover Square, one "seller-in-a-year" I met in the hall.

anybody else?

ali r.
DG Neary Realty

Check out the volume on the Streeteasy Condo index: 143, lowest since they started keeping tabs.

I saw about 6 apartments today and feel we're narrowing down to finally find something...
We've had to move out of the area we originally wanted but are finding charm in places unexpected
and far more rational pricing

The sun is shining? I left town Thursday, did spring finally arrive?

I was busy yesterday and was at 5 open houses with 5 different groups. Because of how I work these were all units, with the exception of one- that my clients had seen and were considering an offer (I am sending out three offers this morning). I won't disclose the addresses but it was one one bedroom in the mid $600's the open house seemed moderately busy. Three bedroom loft low $2m's was jammed and we had to wait to get into view. Postwar two bedroom $1.3ish was moderately busy. High $2m loft was pretty slow, but it was just listed with little lead time online. I was also at a low floor prewar two bedroom around $1m that was by appointment, broker had one other group waiting, but unit has issues (noisey).

You just can't generalize about this market, but well priced "desirable units" are drawing multiple bids, two I recently participated in were 25 w 15th and 5 east 22nd street. That said there are plenty of middling units attracting little attention and spending lot's of time on the market. There is a bull market in the larger secular bear market would be one way to put it....

Keith Burkhardt (broker)

http://theburkhardtgroup.com/agents_details.php?agent_ID=7619

Keith - how frustrated are the buyers who lose out on the bids? Do people seem more likely to increase their bids in the future or are people more willing to be patient? I would think that the answer is the key as to what happens to RE in NY, particularly the middling product, which will have to come down in price if the better stuff isn't going to be driven up by demand.

The frustration level is unique to the buyer and their emotional investment in the property. Most take it well and are prepared to simply move on. A few though have been crushed unfortunately.
Via android