𝐒𝐩𝐫𝐢𝐧𝐠 𝐢𝐧𝐭𝐨 𝐀𝐜𝐭𝐢𝐨𝐧: 𝐈𝐬 𝐈𝐭 𝐓𝐢𝐦𝐞 𝐭𝐨 𝐑𝐞𝐥𝐢𝐬𝐭 𝐘𝐨𝐮𝐫 𝐍𝐞𝐰 𝐘𝐨𝐫𝐤 𝐀𝐩𝐚𝐫𝐭𝐦𝐞𝐧𝐭?

Is It Time To Put Your New York Apartment Back on the Market?

If you took your New York apartment off the market in late 2024, you’re not alone. According to Newsweek, data from CoreLogic and The Wall Street Journal (WSJ) reveals that nearly 73,000 properties were pulled from the market in December alone—the highest December figure since 2017.

Whether it was due to a lack of offers, the overwhelming holiday season, or a wait-and-see approach for better market conditions, many New York apartment owners pressed pause.

But now, with spring around the corner, it’s time to reassess. The New York market is already picking up, and waiting too long could mean facing more competition from other sellers.

Why Now Could Be the Right Time

Selma Hepp, Chief Economist at CoreLogic, notes that many sellers likely pulled their listings last year with the goal of trying again this spring:

“Another reason for a step back could be that sellers wanted to wait and see how spring home buying season goes, and if mortgage rates fall, which would bring more home buyers and competition back in the market.”

Spring is typically the busiest season for buyer demand. As the weather warms up, more buyers flood the market, eager to close on apartments before summer. This creates a prime selling window.

Plus, while mortgage rates haven’t dramatically decreased, they have dipped slightly in recent weeks. This is already bringing more buyers into the market. Since January, demand has steadily increased—and that trend is expected to continue as spring gets closer.

What To Do Differently This Time

If you’re considering relisting, here are some strategies to increase your chances of success:

Review Your Listing Agreement:
Even if you pulled your apartment, you may still be under contract. Check the status of your listing agreement, as it may still be active. If you’re unsure, connect with your real estate agent to clarify your options.

Refine Your Pricing Strategy:
Was your New York apartment priced too high last time? Overpricing can lead to fewer offers. This time, work with your agent to analyze recent sales in your neighborhood. Pricing competitively can attract more interest—and potentially spark a bidding war.

Enhance Your Marketing:
First impressions matter. Did you use a professional photographer or stage your apartment properly? Updating your listing photos with bright, springtime visuals can make a huge difference. Small tweaks, like fresh decor or minor repairs, can also improve your apartment’s appeal.

Be Open to Concessions:
With inventory rising, some sellers are offering buyer incentives, such as covering closing costs or offering a slight price reduction. If you weren’t open to concessions last time, consider whether they could help close the deal this time around.

Increase Flexibility for Showings:
If you had strict showing hours before, it may have limited buyer interest. This time, maximize accessibility. The more flexible you are with showings, the more potential buyers you’ll attract.

Bottom Line

If your New York apartment didn’t sell last year, spring offers a fresh opportunity. With buyer activity on the rise, it’s the perfect time to re-enter the market with a refined strategy.

What would you do differently this time around? Let’s discuss your options and create a tailored plan to get your apartment sold.

If you’re looking for a dedicated New York real estate agent to guide you through the process, contact me today.
Who You Work With Matters!