The Spring That Stalled—Then Started to Stir

Spring is here, but the long-awaited spring selling season hasn’t quite followed. It feels like NYC sellers have been waiting for momentum to return for nearly four years. Just as it seemed like the market might stabilize, new uncertainty emerged. Between geopolitical tensions, rising gas prices, stock market volatility, and higher interest rates, buyers once again pulled back in March. However with stock prices recovering, activities picked up in April

First-time homebuyers, in particular, have largely stepped to the sidelines, leaving entry-level homes with minimal activity. Meanwhile, the rental market continues its astonishing rise—arguably the one point all New Yorkers can agree on: rents have become shockingly high.

Closed sales were up, reflecting stronger activity in January and February when rates briefly dipped below 6%—before uncertainty resurfaced. Inventory has also tightened, as softer pricing discourages some sellers from listing altogether.

Our team successfully put several listings into contract in March, though pricing came in slightly below last year’s levels.

For most listings, deals didn’t come easily. It required creativity, persistence, and a highly targeted approach to connect with the right buyers. In this market, transactions are happening—but they’re being earned.

On the flip side, experienced buyers are finding opportunity. Some long-waiting sellers are finally adjusting expectations, creating moments for well-positioned buyers to secure strong deals.

Personal Update

Last month I didn’t send out my monthly commentary because I went through a double mastectomy and reconstruction surgery. A couple of years ago, a blood test showed that I carried a gene mutation that caused a 40% higher risk of breast cancer. Since then, I have been on a heightened surveillance protocol. 2 months ago, early cancer cells were detected. Doing a blood test to screen for cancer genes is easy and highly recommended! Email me if you would like my genetic counselor’s contact. She’s great!