With pandemic pricing long behind us, home prices are steadily increasing and buyers are taking notice. On top of this, interest rates are already rising and are expected to go up further. This is pushing buyers to act sooner rather than later, which has led to bidding wars. According to Jonathan Miller, President and CEO of Miller Samuel, "Bidding wars are rising slowly around New York. Heavy sales volume is expected and inventory will not be able to keep up. That will press prices higher this year."

The luxury market continues to do exceedingly well as reflected in the January numbers, which Donna Olshan, President of Olshan Realty attributes to an “unpredictable time” leading to a greater interest in buying. Olshan says, “People want to have a home more than anything else in this kind of environment, and it’s reflected in the stats.”

With market activity moving swiftly and continued price and rate increases on the horizon, now is a good time to weigh all your options if you’ve been seriously considering buying or selling. Let’s talk before another missed opportunity passes you by.