Sellers, It's Your Time

Sellers, it's your time. There just aren't enough homes on the market to meet buyer demand.  We don't see this changing for quite a while.

It's affected the number of pending sales, which is down slightly from summer's peak (but still at an extraordinarily high level, especially for this time of year).  That decline will reverse as the apartments that come on the market over the next 2-3 months (traditionally the busiest time of year) go into contract.

As for prices, in some markets they've shot up 40+% over the past year.  That hasn't happened in New York City.  We recovered the losses that occurred during early Covid, and maybe made back a little more. It's a much more sustainable model and better for everyone in the long run. Overall we're seeing very little negotiability - on average, 3.6% from the original asking price and 2.6% from the last asking price.

If you're a potential seller, there are frustrated buyers out there waiting for your home to come on the market. Please get in touch and let's discuss your options.