Encouraged by August sales, some sellers are nuts

While a significant portion of listings — roughly 33 percent, according to Streeteasy.com — saw price cuts last month, there was an increase in sales and many brokers started  elevating asking prices to enhance their units’ image, leave room for haggling or operate as if the market were turning around.

So reports the Real Deal.

Upwards of 850 homes in Manhattan sold in August, according to figures compiled by the publication, which used Streeteasy.com data.  That was up from approximately 760 deals made a month prior.  Almost 5 percent of all Manhattan homes on the market last month, the data show, saw price increases; those price changes averaged 6.4 percent.

Are those brokers who are raising prices nuts? Continue reading