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September State O' the Market: Time to Make Predictions

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A week ago, optimism was in the air, along with stats suggesting prices were up and sales were happening. June's sales numbers looked good as the buyer tax credit expired. But now it's September, the temperature's climbing back toward mid-summer highs, and not everyone is feeling so enthusiastic. The folks at PropertyShark crunch their own numbers to show that, while closed transactions jumped 75.8 percent in the first half of this year, sales plunged again in July. Just over 1,000 apartment sales closed, which is a tiny 1.9 percent bump from July '09. Is this merely the usual sign of the summer slows, with the rising median sales price?up nearly 20 percent year-over-year in July?an indication that the market really is getting back on track? Or are we about to head into the dumps again? Our favorite psychic hotline is busy, so we turn to you, Curbed commenters: thoughts and predictions in the comments, if you please.
· Manhattan Transactions Growth Nearly Stalled in July but Prices Rose Significantly [PShark]