Informal data points to cooling market

The Corcoran Group conducts a weekly poll of its agents to see if our open houses are well-attended. This is a voluntary poll and does not capture all of our open house activity, much less that of other firms. However, the results of the last couple of weeks would seem to indicate that the market is cooling off.

  • Last week (two weekends ago) about 33% of open houses were described as busy or intense. This week (last weekend) about 23% were busy or intense.
  • Last week about 22% of open houses were described as average. This week about 35% were described as average.
  • Last week about 45% were described as light or dead. This week about 43% were light or dead.

This past weekend was gay pride in New York, which could have impacted results. Regardless, this shows two weeks in a row of more than 40% light/dead, or close to half.

# of visitors / groups of visitors …… % of responses

  • 1-2 …………………………………. 21%
  • 3-5 …………………………………. 21%
  • 5-10 ……………………………….. 38%
  • 10-15 ……………………………… 15%
  • 15-20 ……………………………… 6%

My hunch is that this is just a lull, but time will soon tell.

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