We have waited long enough! It’s true – the New York City real estate market is showing signs of awakening! With the spring market at the starting gate – things are beginning to percolate. Buyers – we’ve been telling you for weeks that the negotiating advantage is yours, however, that advantage is weakening.
How can we tell? Buyers are coming out and signing contracts. We are seeing well-priced deals that may have been around awhile go into contract. With overall new inventory still bouncing along the bottom, demand from buyers is trending upward. This is very good news! We are calling it here – we have left the low liquidity zone and have entered the neutral liquidity zone. For how long you ask? There have been too many head fakes as we all know to try and figure this out. We are in new territory and what that means is that if you are considering a real estate transaction this year, it is worth taking a good look at current market dynamics.
www.urbandigs.com
www.urbandigs.com
Inventory levels remain on the low side. Even though last week was a holiday week, we did see a slight uptick in supply. It’s important to note that this could be the story on new inventory for the foreseeable future. Sellers that are locked into sub-3% mortgage rates are not giving that up unless they absolutely must.
www.urbandigs.com
www.urbandigs.com
There is a different story here altogether! We just had our 2nd consecutive week of increased demand. Buyers are out there bidding and sellers are negotiating. Deals are getting done in a big way! This has absolutely nothing to do with price action. Increased deal volume equals bids and bids translate to sellers getting activity.
www.urbandigs.com
This is a shift – from a low liquidity market to a neutral liquidity market and we believe we could be in this environment for some time.
As always, we are here to be your real estate advocates. Call or email anytime. We would love the opportunity to talk with you.
Recent Comments