The share of homes going off market within two weeks dropped by 4.85 percentage points year-over-year in New York, NY. This means buyers have more time to make decisions and less pressure to act quickly. If you’re shopping for a home, you can take a more measured approach this season.
In the rolling 3-mo period ending Mid-Q3, sellers gave concessions in ~45% of US home sales, the highest Mid-Q3 share recorded since at least 2020.
That share was up from ~43% a yr earlier, showing buyers gained more leverage as elevated inventory and lighter competition shifted the national market.
Concessions included help with repairs, closing costs, or mortgage-rate buydowns, giving buyers multiple ways to lower total purchase costs beyond straight price cuts.
Sellers increasingly competed through closing-cost credits and rate buydowns, not just price cuts, reshaping negotiations and creating more flexible deal structures for buyers.
Nationally, ~16% of homes sold in Mid-Q3 paired a price reduction with a concession, offering another path to reduce buyer entry costs.
Even with a slight 2.9% uptick in active listings this year, New York’s housing market remains as tight as ever. New listings actually fell by 4.5%, and prices have barely budged—down just 0.4% to a median of $772,250. Homes are still selling briskly, with a median of 53 days on the market and only 9.7% seeing price cuts. After 25 years of navigating this city’s unpredictable real estate landscape, I can say with confidence: these numbers reflect the high demand and limited inventory that define our market. My approach—rooted in data, strategy, and absolute discretion—helps clients move decisively, whether you’re buying your first co-op or managing a complex transition. NYC real estate isn’t for the faint of heart, but with the right guidance, you can move forward with clarity and confidence.
It's astonishing how much extra mortgage borrowers are paying in major U.S. cities—on average, $3,300 each year in unnecessary interest and fees. In coastal metros, that number can soar as high as $8,100 annually. The culprit? More than 80% of buyers settle for higher costs simply because they don't shop around with multiple lenders.
After 25 years navigating NYC real estate and writing three books on the subject, I can say with certainty: the difference between a smart purchase and an expensive mistake often comes down to diligence at every step—including your mortgage. Whether you’re buying a luxury condo or facing a complex co-op board, protecting your investment means leveraging every advantage, including comparing lender offers. Turns out, a little extra effort can save you thousands—and in this market, that strategy is non-negotiable.
NYC’s housing pipeline is always a story of numbers and nuance. By August 2026, the city approved 6,732 new residential units through ULURP—with another 10,955 in the works. Several large-scale rezoning projects for mixed-use buildings, each bringing hundreds of units, have moved forward or are poised for approval.
After 25 years guiding clients through these cycles, I know these figures aren’t just stats—they’re the foundation shaping our neighborhoods, investment potential, and the paths buyers and sellers will navigate in the years ahead. Whether you’re eyeing a luxury condo or working through a complicated co-op, understanding the data behind the deals is essential. This is the market I live and breathe, and the kind of insight that helps protect your interests when stakes are high.
Manhattan median rent fell 0.2% to $5,285 in August but remains 7% higher than last year, while Brooklyn and Queens saw rent increases of 3% and 12.9%, respectively. Limited apartment supply keeps prices high, with Manhattan and Brooklyn inventories at multi-year lows. Landlords increasingly offer concessions, especially in new luxury buildings. Renters are advised to check rent stabilization status and negotiate renewals with specific, reasonable requests, including non-monetary concessions.
NYC buyers are finding themselves in a unique position right now: homes are sitting on the market for an average of 58 days. That’s almost two months to assess your options, weigh each property’s strengths, and negotiate with real leverage. After 25 years navigating this city’s notoriously complex real estate landscape, I can tell you—timing like this is rare. Thoughtful negotiation and patience have always been at the heart of my approach, and in a market where buyers have the upper hand, a data-driven strategy becomes even more essential. Whether you’re considering a luxury condo or facing a tricky co-op board, this window allows for careful decision-making and a bit less stress along the way.
All-cash home purchases in the New York metro area rose to 46% in early 2026, up from 43.1% the previous year, offering faster closings and stronger negotiating power. Nationally, cash sales declined in some cities. Many cash buyers use proceeds from previous home sales or inheritances. The median age for first-time buyers is now 40, raising concerns about delayed homeownership and lost equity opportunities.
After 25 years of decoding the ins and outs of New York City real estate—through market booms, corrections, and everything in between—I’ve learned that our city always plays by its own rules. Looking ahead to 2027, national forecasts suggest we can expect modest price growth rather than another dramatic surge. But here’s the New York twist: our infamously tight housing supply continues to buoy prices, even as buyers become more selective. Financing will remain a critical lever for anyone hoping to see transaction activity pick up. And as always, performance will look very different depending on whether you’re eyeing Manhattan, the suburbs, or the broader metro area. Whether you’re navigating a luxury condo purchase, a challenging co-op board, or need discretion for a complex situation, understanding these subtle market dynamics is essential to making the right move.
After 25 years navigating New York’s real estate twists and turns, I’ve seen the cycles—both frenzied and calm. Right now, across the U.S., buyers entering the starter-home market are finally gaining some leverage. The landscape has shifted: entry-level buyers are finding more options, fewer bidding wars, and a real chance to negotiate for seller credits, closing-cost assistance, rate buydowns, post-inspection repairs, and, on occasion, extras like furnishings or appliances. Well-priced homes in great shape still move fast—no surprise there—but those lingering on the market, needing work or priced too high, are giving buyers more room to negotiate both price and concessions. Yes, affordability remains a hurdle with average 30-year mortgage rates hovering near 7% through Q3 2026. But for those who are financially prepared—credit in order, savings strong, and budget on point—this is a window of opportunity with less chaos and more control. As always, my approach is rooted in data-driven strategy and careful guidance, ensuring every move strengthens your financial future.