Spring market wiggles a toe, yawns, leaps out of bed
By Teri Karush Rogers |February 15, 2011 - 10:47AM
The spring market is springing to life, according to stat trackers like UrbanDigs' Noah Rosenblatt.
"In the last seven days there have been 272 contracts signed in Manhattan, up from the mid- to high-100s three weeks ago," Rosenblatt told us yesterday, confirming that the uptick in contract signingshe reported last weekis continuing apace.
Meanwhile, real estate brokerages like Bond New York are predicting a "hugely busy" spring.
Web traffic to Bond's sales listings was up 21% in the first 5 weeks of 2011 compared to the same period in 2010, says Michael Signet, executive director of sales.
"We've begun to notice multiple bids and apartments going at or above asking for the first time in a long while, another indicator of a pending hot market," says Signet. One reason may be that "interest rates have moved upward just a bit, which usually makes 'fence sitters' jump in before rates click up again."
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