Spring officially kicks off in less than a month, which means we should begin to see an uptick in activity in the months ahead. While sales activity will nowhere compare to last year—a banner year for Manhattan real estate—we should still see seasonal trends come into play. Prospective buyers who have been holding out since rates began increasing are anxious to purchase, after seemingly getting over the “high rates” sticker-shock.
Sellers, if they haven’t already, should begin preparing to list their homes. Timing is key and it’s important to note that this is a busy time of year for contractors. If you’re looking to hire someone to help with painting or minor repairs, I recommend securing them straight away. There are also things you can do on your own to help get your apartment show-ready, such as
decluttering your space.
Developing a marketing and pricing strategy are equally important, especially in this current climate when activity has been down. While it was
predicted late last year that sellers may be forced to reduce their asking price in the new year, that may not necessarily be the case. There are a lot of variables that impact pricing, so it’s in the seller’s best interest to consult with an experienced real estate broker.
Some of you may have already seen the video I filmed last year with
tips for selling your home, but I always like to put it out there as a primer for sellers to get the ball rolling. Also as a reminder, the Sellers page on my website is a good resource and provides a link to Brown Harris Stevens’ Curate program designed to allow sellers to defer renovation and staging costs until after the close of the sale.
There is hope on the horizon for a healthy sales cycle. In fact, the
luxury market just reported its best week since last May. Albeit this is just one segment of the market, it’s encouraging news, nonetheless. I am happy to offer guidance (with no obligation) whether you’re looking to buy or sell. Let’s talk!
