Any Open House Reports???

There's plenty to see, but not much urgency about seeing it. Most of the same apartments will still be on the market a month from now.

ditto

I got decent traffic at my listing in SoHo -- 8 people as opposed to the dozens I'd gotten at the first open house a couple of months before -- but some of that was serious traffic and we got two offers.

For those of you wondering about the disconnect between your experiences and what the brokerage community is saying, let me point out that the interest is mostly coming from non-New Yorkers who are probably not holding dollars.

I expect as an agent that was the "last hurrah" of serious shoppers for two weeks -- not expecting to show Memorial Day weekend and not expecting anyone's head to be in the game the weekend after that.

ali r.
{downtown broker}

a couple of months before

Therein lies the key. Manhattan real estate used to be "location, location, location," now it's "inventory, inventory, inventory."

And "overpriced, overpriced, overpriced."

Buyers taking their time.
My buyer (new yorker) just signed a contract, which we were negotiating for 2 month, getting from $890K to $820K

Elena
(broker)

Not sure if you should disclose that or not, but that is a nice data point - thanks for sharing.

It'll get nicer by December, after nobody buys in the spring.

and the summer and the fall.

I went to three open houses in Chelsea in the 2-3 bed 1mil-2.5mil range. We saw no other interested parties (in fairness, it was overcast & raining), and were strongly encouraged to 'make an offer' at two of them. Two listings had already had price decreases and I don't expect they will sell at their current levels either. Maybe I'm being optimistic as I'm a buyer but I got the sense that properties selling in this price range have slowed precipitiously.

I hit 6 O/H on UES. 2BR/ Jr.4 range and ran into a total of four other people combined. Also noticed anywhere from zero-3 names on the sign-in sheets. Even caught one broker wrapping up early because no one had shown up.

Real estate used to be, "Location, location, location."

Now it's, "Dead, dead, dead."

mrsbuffet, any thoughts on the apts had a look at?

what kind of thoughts do you want?

specifics on the apt you looked at.