December 2024

Dear Friends,

Wishing you and yours a happy and healthy Holiday season!

As 2024 draws to an end, it’s clear that this year has been challenging for Real Estate in New York City. Increasing costs impacted buyers and sellers alike, but glimpses of optimism emerged…including pending lower mortgage rates and levelling off of supply chain issues…

Here are some predictions from research at Douglas Elliman and Streeteasy for what’s on the horizon for NYC real estate for 2025:

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❄️ Affordability remains top of mind, and co-ops—often priced more attractively than condos—are set to regain popularity. Though buyers typically shy away from co-ops due to their detailed approval processes, the high cost of condos and tight inventory are making co-ops a more appealing choice. Sellers of co-ops may find 2025 a strong opportunity to list, especially with fewer new co-op listings compared to condos.

❄️ The one bedroom market was the best performing segment of the New York City market. In November, 36% of the transactions were one bedroom sales. This trend is expected to continue through 2025.

 

❄️ The luxury market is expected to rebound. Buyers may be reenergized by the declining prices coupled with anticipated lower interest rates and rising corporate bonuses. As the threshold for NYC’s luxury market adjusts, more opportunities will emerge for both buyers and sellers.

 

❄️ Brooklyn remains the strongest performing area as buyers prioritize a home being more than just a living space—it’s a personal haven. Demand for Brooklyn is expected to only strengthen more in the coming year.
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​​​​​​Current Listings

175 East 74th Street, 9D

Upper East side, Manhattan, NY

0 Beds   |   1  Bath |    Residential

$485,000

Move right into this fabulous sun-flooded studio. The apartment, in excellent move-in condition, offers lots of storage, lovely hardwood floors, and a new kitchen with high end appliances to create your favorite meal. There is a beautiful just renovated bathroom. Have room to entertain and all you can wish for in this truly a must-see home.

See full listing
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​​​​​​Just Sold

216 East 47th Street, 24B

Turtle Bay Manhattan, NY

1 Beds  |   1 Baths     |   Residential

​​​​​​​$825,000

Going, going, gone! Sold with multiple offers. Big congratulations to my sellers. 

See full listing​​​​​​​

​​​​Whether you’re buying, selling, renting, or just watching the market, opportunities abound in the year ahead.
​​​​​​​Here’s to a successful 2025! 

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All my best, ​​​​​​​Keren

See My Listings

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