Holiday Market Moves

End-of-Year Opportunities for Buyers, Smart Moves for Sellers

We’re entering the best time of year for savvy buyers to make a move—and no, we’re not talking about holiday shopping. As the end-of-year festivities approach, home buying often takes a back seat for most people, leaving motivated buyers with an edge. With fewer competitors in the market, this season offers some of the best opportunities to negotiate favorable deals.

November brought a whirlwind of market-shaping events, including the presidential election, Federal Reserve updates, and mortgage rates hovering around seven percent. Unsurprisingly, this led to a dip in both pending and closed transactions month-over-month. Meanwhile, new listings dropped sharply in November—40.38 percent for attached homes and 41.90 percent for detached homes—allowing buyers to absorb inventory and reducing active listings by 14.90 percent from October. However, inventory levels remain significantly higher year-over-year, with a 57.08 percent increase in attached homes and a 32.01 percent increase in detached homes, giving buyers more options as we head into the holidays.

Festive December Events Around Town!

And a couple early January events…

The nation’s largest lender says the government tied its hands with regulations that prevented it from exerting control over appraisal values.

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The celebrated couple bought the co-op overlooking Central Park in the early 1980s and used it as a pied-à-terre — and for big, splashy parties.

A longtime tenant is locked in a standoff with the owner of his Upper West Side building.

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This week’s properties on the Upper East Side, in Harlem and in Astoria.

Rental inventory is rising in Queens and Brooklyn, and declining in Manhattan. How are new developments altering the rental market?

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