It’s so clear to me: if you have the down payment and plan to be in the city for a few years, it makes a lot of sense to buy. That said, while there’s been a slight uptick in activity, NYC still very much remains a buyer’s market.

In April, concerns about tariffs and a potential recession continued to weigh on buyers’ minds. Mortgage rates have remained relatively steady, hovering between the high 6s and low 7s since last November.

The recent tariffs sent the stock market into a tailspin over the last two days. But just before that, NYC real estate was quietly holding its ground—and even pushing forward.

Since Feb 19, S&P 500 is down 10%, a fast and furious downward correction from the growing confidence the markets exhibited after the election last year.

The New York City real estate market continued to strengthen in January 2025. The past 2.5 years have been particularly challenging for sellers. While our team listed numerous properties, market conditions didn’t support the prices sellers were hoping for, leading many to rent their properties instead.

The New York City real estate market closed out 2024 on a high note, particularly in the luxury and new construction sectors, where demand is rising and supply is shrinking.

Despite the holiday season, the market continues to show remarkable strength.

The NYC real estate market was the tale of two cities in October.  Total transaction volume ticked higher, even though rates moved higher and sentiment was tense. 

The NYC real estate market is operating with limited optimism.  Right before and after the rate cut, there was a rush of activities.

This is the first time in 3 years that the beginning of the fall came with the busy tone September usually brings. 

It feels like dawn is finally coming.  The real estate market in NYC has been in a tough spot ever since rates started to rise in June 2022. 

After a difficult March and April, where 6 contracts didn’t get signed back to back, May offered a much needed respite from that string of heartbreak.

The NYC real estate market is at an interesting crossroad.  On the one hand, we feel a lot of pent-up demand from buyers who have been watching and waiting for rates to go down.

The big momentum we saw in January slowed down in March, as the expectation of rate cuts dimmed.  It was as if the subset of buyers who were rushing to take advantage of the window where prices were still low and rates were still high, had done what they needed to do and the market slowly came back to the slower pace of 2023.

February was a little busier than January, which was busier than all of 2023.  It felt that spring was in the air after a long winter for the New York real estate market. 

2024 started with a busy tone for the New York City real estate market. For all of 2023, we said to our buyers that “you marry the price but not the rate”, meaning now was a good time to buy because it’s a buyer’s market and prices were negotiable.

The real estate market in NYC saw about 15% more transactions in December 2023 than a year ago in December 2022. Is it a telltale sign that the real estate prices will recover in 2024? Prices haven’t moved but more buyers have come off the sidelines and jumped into the market to start the search. ⁠

Rates came down from their highs.  Wall Street debated how soon and how much the Fed would cut rates next year. 

Compared to last May, before rates started to rise (does anyone still remember those days?!) prices were now down about 11%.  Transaction volumes were down 40%.  Inventory was up almost 60%.