April has arrived, and with it, New York City’s real estate market is gaining steady momentum. While inventory is rising, it’s still below typical spring levels—creating a rare opportunity for savvy buyers and motivated sellers.
With contract activity picking up and buyer interest growing, now is the time to act strategically before the market fully heats up.
Let’s make the most of this season together.
Warm regards,
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One of the key takeaways from the latest data is that new listings are coming onto the market, but they’re still behind the expected pace. March typically sees around 1,673 new listings, yet we’re only at 1,448 so far. Will we catch up? Probably. But the slower-than-expected influx suggests sellers might be hesitant, possibly waiting to see if conditions improve.
Historically, March through June are the four biggest months for contract activity, with March leading the way. That means anyone thinking about listing should consider doing so now, before the peak buyer demand starts to wane. If the usual trends hold, activity should ramp up in the coming weeks—but the gap between expectations and reality is worth watching.
If you’ve been following real estate trends, you know that the story of the past few years has been a supply problem. That hasn’t changed much. As of late February, contract activity has picked up, and new listings are appearing, but we’re far from an oversupply situation. In fact, nationally, the U.S. remains short about 1.5 million housing units needed to balance the market. That underbuilding problem from the past decade? Yeah, it’s still lingering.
For New York City, where housing dynamics often play by their own rules, it’s a tale of two markets. Some sectors—like pre-war co-ops—are sluggish, while others—like new developments and luxury properties—are seeing more action. If you’re a seller, this means pricing correctly is crucial. Buyers are out there, but they’re being selective.
As the New York City real estate market moves into spring 2025, buyers and sellers must navigate a competitive landscape shaped by rising mortgage rates, fluctuating inventory, and shifting buyer demand. Here’s a look at the key trends shaping the market this season, with insights to help you make informed decisions.
