Ready, Set, Spring!
Temperatures are warming and thoughts of Holiday Markets, ice skating in Central Park, and cozy hot chocolates are quickly turning to al fresco dining, baseball, and lazy neighborhood strolls.
Spring is about renewal and marks the unofficial season of real estate. This year in particular, Spring will also be defined by a welcomed infusion of listings and eager buyers looking for their new home.
Scott Harris, a top-producing residential real estate agent with Brown Harris Stevens, breaks down the tell-tale signs of what is sure to be an active market.
Buyers are enthusiastic.
Reports about decreasing sales volume and price softening, coupled with predictions of lower interest rates within the upcoming 6-9 months are boosting confidence and taking many off the sidelines.
Sellers are getting ready to sell.
After a prolonged market defined by limited inventory, proper pricing and preparation will generate attention.
Condition matters.
Turn-key properties will outperform comparable listings. With high costs and undefined timelines, most buyers simply do not have an appetite for extensive renovation projects.
Employees are facing a moment of reckoning.
Across markets and industries, the unlimited flexibility of remote work is coming to an end. Returning city dwellers in particular are re-evaluating their living spaces, commutes, and evolving needs. And with new inventory to choose from, a ripple effect of transactions is likely to occur.
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