Have you also noticed uptick in activity?

Worried sellers checking out their competition.

we have been going to open houses in the chelsea area since september and haven't noticed an uptick at all. it seems about the same if you leave out the last two weeks of december where open houses where empty because of the holidays.

Personal experience, one opinion, period. If you are an interested buyer, it is always a pain in the ass to see apts, scheduling, brokers, whats available, yada yada yada...the best buyer is a knowledgeable buyer. The more places you see, the more market knowledge you have. Just one of the many inputs necessary to make an informed bid. I, along with 3-4 friends in similar situations are starting to aggressively view as many apts as possible via the open house chain and with brokers, when the time is right, pull the trigger.

Interesting. I found the Upper East side busier, lots of couples looking. Not sure it translates into offers.

Brokers have been touting the so-called uptick at openhouses as a harbinger of stronger sales activity.

I do think potential buyers who've been sitting on the sidelines are making some rounds now that the busy holiday season is in the rear view but it certainly doesn't mean sales will suddenly jump. NYC RE still isn't anywhere near bottom, IMO.

Savvy buyers will continue to actively look but won't pounce until they've found exactly what they want at the best price possible.

Or, maybe UESiders have no dough left for movies, museums or shopping....So, they can stay warm for a bit by being vouristic in other peoples shacks.

I'm looking in Chelsea at townhouse duplexes. I've generally found new listings attract a fair number of potential buyers - and there have been a fair number of new listings. In addition, realistic "2009 market prices" also attract interest. I saw a delightful sunny townhouse duplex last weekend which was new to the market with good updates and lots of outdoor space priced at a quite reasonable $1000 per indoor square foot. Open houses can also be a fun adjunct to a Sunday brunch. :-)

If you price it right, they will come.

Prices are still no where near where they have to be. Downtown co-op studios and small one bedrooms are still asking between $950-$1000/sf. Only a few sellers are more realistic and they are pricing at $700-$750/sf and successfully going to contract. THe brokers are completely out of touch. They keep saying ridiculous things such as an apartment that hasn't had a single offer in six months is "priced right according to the market." ANd the "we think things we'll start moving nicely once the Spring buying season starts." They keep comparing listing prices to the peak and argue that things are a good deal. Wake up. People are not going to pay half a million dollars for a studio in an economy where jobs are uncertain, credit ir difficult to qualifiy for (albeit cheap), and peoples' retirement funds having taken a major hit. Renting is a better option right now so you can wait on the sideline and watch prices fall. There's not going to be a sharp rebound, just an L recovery, so buyers feel they can wait. Sadly, I can't wait that long.

bonus season