April 23, 2025
After several years of intense competition and record-breaking prices, the NYC housing market is showing signs of leveling out in Spring 2025. Inventory has started to rise across nearly all boroughs, giving buyers a little more breathing room and leverage.
In Manhattan, prices have held relatively steady, particularly in luxury segments, but we’re seeing longer days on market—even for well-staged units.
Brooklyn and Queens, which saw explosive price growth in 2021–2023, are seeing a moderate slowdown, with price adjustments becoming more common as sellers respond to increased competition.
What’s driving this change? For one, interest rates, while still elevated compared to the ultra-low pandemic era, are showing signs of easing.
That’s motivating some sellers who had been sitting on the sidelines to finally list. On the buy side, affordability remains a concern, but the increase in listings means less pressure to overbid.
This spring may be a sweet spot, especially for buyers who were priced out last year. With more inventory, slightly less competition, and potential for interest rate relief, now is a good time to re-enter the market prepared.
For sellers, strategic pricing and strong presentation are more important than ever. Homes that are staged well and priced right are still moving—but gone are the days of every listing selling above ask in the first weekend.
Keep an eye on how the Fed handles rate policy in the coming months, as it will likely set the tone for summer and fall activity.
Disclaimer: This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.
