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March Manhattan Market Update
- Thread starter Noah Rosenblatt
- Start date
I think a big question is are a lot of these deals happening because buyers are coming up to meet sellers demands or are sellers at the point where the finally get a "live one" and telling their broker "Finally! Let's do what it takes to land this one!"
As you said, we will know more when we see price data from closings. In my office (very small sample size) we are seeing buyers being more willing to walk away if sellers don't hit their bid price and seller's chasing not wanting to lose the deal. We just had a contract go out at close to 16% off ask - the unit had been on and off the market for close to three years with several price cuts (deal @almost 35% off original ask) and they had offers about 8.5% higher along the way but we're not ready at that time to take them.
As you said, we will know more when we see price data from closings. In my office (very small sample size) we are seeing buyers being more willing to walk away if sellers don't hit their bid price and seller's chasing not wanting to lose the deal. We just had a contract go out at close to 16% off ask - the unit had been on and off the market for close to three years with several price cuts (deal @almost 35% off original ask) and they had offers about 8.5% higher along the way but we're not ready at that time to take them.
hmm, interesting. I wonder if there are many deals happening with sellers hitting the bid in last few weeks...