A Return to Hoard Mentality
Thanksgiving Thursday to Superbowl Sunday is usally among the slowest time for Manhattan Sales. From the Holidays to Bankers waiting for their bonuses, we usually see a somewhat dramatic cool down in sales. The cold weather in Manhattan, especially this year, doesnt help either. Many brokers take their listings off the market, to sell anew in the spring (and also not add too many days to the time on market counter). But this Sunday, while helping a sale client check out properties, we were startled by the turnout. And the cold did not deter would be home buyers (and curious neighbors perhaps).
From Williamsburg to Chelsea, we were met with crowds of people. At two locations, 133 W 17th Street and 111 W 28th Street, there were at least seven groups (15/20 people) looking at the same time we were. Granted it was the first open house for both properties, but even at others which had been on the market for weeks and months, there was a very good turnout, even just for the 15 or so minutes we were at each property.
Perhaps we are just getting a lot more Bankers with Bonuses or people starting to look, but from my end it looks like the market is really starting to pick up.