Comp shows market movement in prime Greenwich Village

How do you know they got full asking?

It was in an article in the NY Times real estate section. One person was already seriously interested, when a second person came in and offered full ask. The seller accepted that without doing the whole bidding war thing.

I'm not sure this means the market is not heading down - far more listings have had dramatic price cuts and still aren't selling. This place has star power - yes, it's expensive, but 20 feet cielings, fireplaces, etc. - it is not easily replaceable and all it takes is one rich person to want it ..

LOL. You know that the real estate market is in the toilet when one listing selling at its asking price merits an article in the NYTIMES real estate section.

Ah - here's the important crux of the info -

"...a five-year-old triplex apartment at 95 Charles Street in the West Village... went on the market recently for $8.5 million. On the first day of the listing, the first buyer who saw it was interested, and the second made an offer at about the asking price... The property was in contract in 11 days... The sellers... bought the apartment in October 2003 for just over $3 million..."

The heading for this entire thread is, of course, highly sarcastic, and a completely rhetorical response to the original thread that used the exact same heading that initially appeared a week or so ago.

Obviously, I know which direction the market is heading - on that we're all in agreement. This thread is just to show that a single comp can exhibit any statistical point of view that the writer wishes it to.

SO, my point here is, if you want to discuss the direction of a market trend in NYC (or just a particular area), PLEASE don't use just one damned comp as if it alone is enough to describe the market movement of an entire area or city. Please give us an appropriate amount of juicy data to chew on.

No, I think this is the crux of the article:

"But given the rocky real estate market, Ms. Van den Hoven and Mr. Leavitt soon became concerned that too much publicity before the closing might jinx the sale, and they declined to comment further until the closing."

No, I think for $8.9MM if someone gave you full ask in ANY market in less than 11 days you'd be stupid not to close the deal, happy renter. Hell, when I sold my last place in May 2006 I got full ask (in about 13 days) and I immediately shut it down and took the offer. And 2006 was very different than now. That's just good business, period.

I don't think the concern is that the SELLER is backing out!

malraux, you have now created a partial proof that contradicts a prior partial proof.

If the two partial proofs were on the same discussion topic, we would have a black hole.

so in the future, please do not attempt to contradict stevejhx or you risk a black hole which frankly won't do much good for NYC real estate