{1.2025} NYC Real Estate is Heating Up
The New York City real estate market continued to strengthen in January 2025. The past 2.5 years have been particularly challenging for sellers. While our team listed numerous properties, market conditions didn’t support the prices sellers were hoping for, leading many to rent their properties instead.
This January, we relisted several of those properties, and the shift was clear—buyer traffic was significantly stronger than when we first listed them in 2023 or 2024. Offers also came in quickly, though they remained below sellers’ expectations. Still, this marks a positive trend. The market has transitioned from having very few buyers to attracting more interest, and now, buyers are actively making offers—albeit lower ones. As competition increases, it’s only a matter of time before these buyers start adjusting their offers upward.
On the inventory side, supply dipped in November and December due to seasonal factors. Manhattan’s total absorption rate stood at six months in December, down from 7.3 months in December 2023. When adjusted for seasonality, it’s clear the market has been in a slow but steady recovery for some time.
On a personal note—this winter has been fantastic for skiing! If you haven’t hit the slopes yet, this weekend is the perfect time. My girls are in a ski camp at Belleayre, which means we’re out the door by 7:45 AM on both Saturday and Sunday. I wasn’t sure if we’d manage the early mornings, but to my surprise, we’re all loving it!
New Development
Hudson Yards is finally getting a new condo building! The neighborhood initially focused on commercial and rental properties, but as it continues to evolve, more buyers are looking to put down roots here. This new development, located on 9th Avenue, will be closer to transportation than many other Hudson Yards buildings and will feature 122 units across two towers. If you’d like more details, feel free to reach out!
