With the arrival of 2025, seems like an apt time for a real estate market check-in. We’ve asked our esteemed Roundtable panel for their predictions about the year ahead. What’s in their forecast for the New York City market? Buyers and sellers, or those who just keep their finger on the real estate pulse, read more to find out.
Ashlie Roberson
THE WHITMAN ROBERSON TEAM
THE AGENCY
NEW YORK CITY
I think 2025 is going to be a great year for real estate. For several years, real estate pros have been saying behind the scenes “survive till 25.” This was partially due to the mortgage rate environment, but also due to the volume of transactions that occurred in 2021 and 2022. In the final few weeks of 2024, we had offers going out on listings that had been quiet all year with multiple price drops and then landed in multiple offer situations. It is a more balanced market than we have seen in many years — sellers are more realistic on the value of their homes and buyers are no longer holding out for unrealistic mortgage rates. I believe 2025 real estate is going to thrive.
Matthew Melinger
BROWN HARRIS STEVENS
MANHATTAN AND BRIDGEHAMPTON
Following a fairly active Q4, we anticipate the pace to continue (and gain momentum) in 2025. With the election behind us, both buyers and sellers have become laser-focused on what most have been putting off until things became a bit more “certain.” Stubborn interest rates continue to keep less-committed buyers on the sidelines but we are finally seeing a large number of formerly-dormant buyers back in the market. The inventory crunch we experienced in the last two years may finally be behind us, as we are still four to six weeks away from our spring season kickoff and are already observing a healthy amount of new, properly priced listings coming to market each day. 2025 is forecasted to be a pivotal year for real estate, and both sides of the NYC market appear to be prepared to act swiftly when opportunities present themselves.
Mallory Bogard
BOGARD NEW YORK TEAM
SERHANT.
We are extremely optimistic in the New York City market. All signs and market feedback so far this year are encouraging. There is pent-up demand from 2024’s election year and high rates, we are starting to see this demand break loose. The rates feel like a new normal that consumers are getting used to, and many who held off on plans last year no longer want to delay their next chapter. So we are, despite the cold, despite the rates, seeing more buyers very actively shopping than we saw in Q3 and Q4. I’ve also received about 20 “in search of” emails from brokers looking for inventory for a specific buyer in the last 24 hours. Buyers are hungry for inventory and sellers will start making spring selling plans to follow suit. Whether it’s upsizing, downsizing, life changes, moving closer to their office where they are spending more time again, or wanting to buy a nicer home, life keeps marching on despite what the market does and we are just consistently speaking to people who are frustrated with how long they’ve put their plans off and they are done waiting, and they are committing to making moves this year.
Abraham Sarway
DOUGLAS ELLIMAN
NEW YORK CITY
I believe 2025 has the potential to be the strongest year for real estate since 2021. Buyers have grown increasingly comfortable navigating the current economic landscape, fostering confidence in both financing opportunities and making significant cash investments in the market. The supply of high-end, premium properties is likely to remain limited, which should help stabilize prices in this segment. At the same time, new developments will face mounting pressure to deliver exceptional products to remain competitive and sell out. However, sellers need to exercise caution when pricing their apartments. Overpriced inventory will struggle to move in a market where buyers have more data than ever before and still carry some degree of skepticism. Accurate pricing will remain crucial to ensure transactions occur efficiently and at optimal value.
Charlie Attias
COMPASS
NEW YORK CITY
I predict a busy NYC market in 2025, driven by several key factors:
1. Exceptionally high Wall Street bonuses are expected in 2025, following a stellar year for financial markets in 2024. This will likely increase demand for homes in the city, particularly among families looking to upgrade or relocate.
2. After a slow period in 2022 and 2023 due to higher interest rates, NYC property prices appear to have bottomed out. In 2025, buyers will have the opportunity to purchase real estate at reasonable prices and secure favorable deals.
3. Many sellers, who have been waiting on the sidelines for an extended period, are now motivated to make deals. With high carrying costs and a desire to move forward, these sellers are willing to negotiate and slash prices to secure a sale.
Andrew Feldman
THE CORCORAN GROUP
NEW YORK CITY
As we welcome the new year, mortgage rates of around 6% have established themselves as the new normal—a sign of a strong economy with solid employment and rising wages. New York City, once again, proves its resilience. While other U.S. markets experienced dramatic price surges NYC remained balanced, and now, some of those “cheaper” markets actually cost more than the Big Apple. The $100 trillion generational wealth redistribution is further fueling high-end real estate, creating unprecedented opportunities. Buyers are gravitating toward brand-new, turnkey homes, but renovation projects could represent the hidden gems of the year. Meanwhile, individuality in home design is taking center stage, with personal expression replacing fleeting trends. On the political front, New York City may be on the cusp of a shift toward practicality, as solutions take precedence over ideology. With inventory tightening, buyer confidence soaring, and demand intensifying, it’s shaping up to be an unforgettable year. Here’s to a happy, healthy, and prosperous 2025!
We asked top real estate agents from around New York City for their forecast of the real estate market now that the New Year has arrived.
