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Comment of the Day

"SOME REALITY: These reports represent sales that closed, many of which went to contract 2-6 months ago. Right now, what is REALLY happening in the market is the following: 1) Lots more activity. This is EXTREMLY important as the more transactions, the more meaningful the averages. When the DOW has low volume, is that a good indicator of valuation? NO. 2)Lots of high end closings. 3) Bidding wars BELOW askinig...multiple bids, yes. The most important indicator of pricing stabilization. Sorry to be the bearer of kinda-good-news."?realitycheck [Market Reports: Manhattan Free Fall May Be Over]