Is NYC a buyer’s or a seller’s market? This is a question many buyers/sellers have about NYC in general or about the city’s real estate during specific markets.
The case for a buyer’s market
A buyer’s market is when there are relatively few buyers in the market and ample sellers, allowing buyers to dictate terms. In such markets, sellers often have to lower prices or offer incentives to buyers to attract them.
NYC is less of a buyer’s market in general, but there are times when it fits the bill. Most recently, it happened in 2024 (first half) when the market shifted in favor of buyers. However, more buyers are expected to flock to the city in 2025, shifting the dynamics back in favor of the sellers.
But it’s also important to realize that the trends might be different on the neighborhood level. Some of them might favor buyers more, even when the city, in general, is a seller’s market.
The case for a seller’s market
NYC is generally a seller’s market, considering the number of buyers it usually fields compared to the number of sellers competing for limited inventory. This year, interest is expected to be concentrated on co-ops, so if you are selling a co-op, chances are that you will encounter a favorable market.
However, seasonal trends have to be taken into account as well. Spring is a solid season with many sellers listing their properties, but it also attracts a lot of buyers, keeping it usually seller-friendly. However, it may shift against sellers if their homes remain listed until the summer. The first quarter of the year (January through March) is typically a strong seller’s market in NYC.
With a good New York City broker by your side, you may get a good deal, even in a relatively unfavorable market.
