March 21, 2025
Spring is fast approaching, and if you’re considering selling your home in New York City, it’s time to prepare. The market is shifting—buyers are coming back, but they’re more selective than ever.
With inventory increasing, mortgage rates staying high, and competition heating up, sellers need a smart strategy to stand out. Here’s what you need to know to navigate the spring market successfully.
Right now, listings are low, but that won’t last. Spring is the busiest season for NYC real estate, and as March arrives, so will a flood of new listings. Last year, nearly 6,400 properties hit the Manhattan market between January and April, and a similar surge is expected this year. With supply set to rise, sellers should anticipate more competition across all neighborhoods and price points.
After a slower fall and winter, deal volume has picked up. However, don’t expect a buying frenzy like in 2021-2022. With mortgage rates hovering around 7%, buyers are price-sensitive and in no rush. They want value, and they’re willing to wait for the right property. If your home isn’t priced competitively or doesn’t offer strong appeal, buyers will move on.
Even with buyers returning, it’s not a seller’s market. The UrbanDigs Listing Climate, which tracks successful versus unsuccessful listings, dipped below 1.0 in December—meaning more listings failed to sell than those that did. Simply put, if your property isn’t priced right or doesn’t stand out, it may sit on the market. Overpricing leads to prolonged listings, price reductions, and ultimately less leverage for sellers.
If your home isn’t selling, it’s almost always due to one of three reasons:
'The reality? It’s usually a price problem. With inventory increasing, overpriced listings will be ignored. Buyers are more informed than ever, tracking comparable sales and market trends. If a similar, fully renovated unit sold for less, an outdated home with minor touch-ups won’t fetch more. Pricing competitively from the start attracts serious buyers and reduces time on the market.
Transparency sells. Buyers have likely toured multiple homes and can spot cover-ups instantly. Instead of hiding flaws, turn them into selling points. Fifth-floor walk-up? Free built-in cardio. Dated appliances? Retro charm. Setting realistic buyer expectations builds trust, making your property an opportunity rather than a compromise.
Spring is a great time to sell—but only if you’re ready to compete. With inventory rising and buyers becoming more selective, realistic pricing and strategic marketing are key. Sellers who price appropriately, highlight their home’s strengths, and stay ahead of the competition will have the best shot at a successful sale.
Disclaimer: This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.
