{11.2025} Rates Drop, Activity Picks Up—Slightly
Mortgage rates have dropped by nearly 1% since June, unlocking parts of the NYC real estate market that had been in a holding pattern. The high-end segment has been the most active, while first-time buyers remain relatively quiet. Over the past couple of years, roughly two-thirds of transactions have been all-cash, but as rates continue to decline, we may finally see more financed purchases — a welcome shift for new buyers.
October felt slightly busier overall. We saw steady showing requests across all of our listings, and several offers came in — still below sellers’ expectations, but at least movement. A few of our buyer clients went into contract, though I wouldn’t call it a full turnaround just yet. The market has quieted again as New Yorkers turn their attention to the polls.
Personal Note
I’ve officially started touring high schools for my older daughter, Kelly — gasp! It feels like just yesterday we were visiting middle schools. Two months in, I’ve gotten a pretty good feel for the NYC high school landscape and will soon be meeting with a consultant to dig deeper.
There are so many great schools out there, and I’m genuinely enjoying the process — looking for an environment where Kelly can continue to grow into the vibrant, curious, and full-of-life young person she’s becoming. Plus, it’s been such a joy spending extra time together on these tours! If you’re also navigating the NYC school journey, feel free to reach out — I’m happy to share what I’ve learned.
