It's the first of the month, the traditional time at Curbed to take stock of the state of the residential market in Manhattan and beyond. To prime the pump, three datapoints to consider:
1) The Luxury Letter team reports good times, per their February edition: "2007 has started out strong: Any doubts about whether bonuses would impact the activity levels have officially been removed, and not unlike any other January, this is a very busy market. Inventory levels have scaled back." (Check their graph showing same after the jump.) [Luxury Letter]
2) Equally hopped up are the brokerbloggers. Writes Corcoran's Peter Comitini: "It remains to be seen if the trend has legs, or fizzles mid-year as people head to the beach, and the stock brokers focus on movers and furniture for their new apartments. But right now the deal making momentum is strong." TrueGotham is a little more circumspect. [Comitini, True Gotham]
3) Our pal Jonathan Miller sends along word of a new Miller Samuel market report for Prudential Douglas Elliman covering Queens and Long Island. The Real Estate summarizes nicely: "The average sales price of a Queens home at $492,117 in the fourth quarter of 2006, down 1.5 percent from the quarter before, but up 1.2 percent from the same time in 2005. The median sales price was $485,000 in the fourth quarter, also a slight quarterly decline, but year-over-year increase." [The Real Estate]
So, everyone's giddy—except in Queens. What are y'all seeing out there? Your reports in the comments, please, for everyone's benefit.