We are experiencing conditions that mirror what the data is pointing to. We continue to be busy and had a large influx of new buyers post Labor Day. For the best properties we continue to see multiple bids. What is interesting is we are now submitting bids below ask with positive results including calls for highest and best.
We are seeing and adjustment from a strong sellers market to a more normalized one. This can be a difficult time for both buyers and sellers as they try to navigate these changing market conditions.
It is actually refreshing to see the market adjusting this way.
http://therealdeal.com/2016/10/04/bidding-wars-slow-amid-spike-of-supply-in-manhattan-resi-market/
Keith Burkhardt
917.770.4951
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