Thinking about buying an apartment in New York, but unsure if now’s the right time? You're not alone—many are watching the market closely and waiting for the “perfect” moment. But here’s something savvy NYC buyers already know:
This summer may be one of the best times to buy in recent years. Here are three key reasons why:
1. You Have More Negotiating Power
After several years of sellers holding all the leverage, things are finally shifting in favor of buyers—even in a competitive city like New York.
From Upper West Side co-ops to Williamsburg condos, the increased number of listings on the market means sellers are more likely to negotiate. Whether it’s covering closing costs, offering a price reduction, or being flexible with contingencies, buyers are finding more room to negotiate.
As Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), explains:
“. . . with housing inventory levels reaching five-year highs, homebuyers in nearly every region of the country are in a better position to negotiate more favorable terms.”
In short? You no longer have to compete with ten other offers just to get a decent apartment—leverage is shifting, and that’s big news for buyers.
2. You Have More Apartment Options
Inventory in NYC is improving. Whether you’re looking for a pre-war classic in Manhattan, a modern condo in Long Island City, or a brownstone walk-up in Brooklyn, more listings mean more options.
More choices give you the opportunity to find a place that actually fits your lifestyle and needs—not just something you settle for. As Jake Krimmel, Economist at Realtor.com, puts it:
“With more fresh inventory hitting the market, buyers have better opportunities to find a [home] that fits their needs.”
And in a city where square footage and amenities matter more than ever, more variety on the market means a better chance of finding your perfect fit.
3. Sellers Are More Flexible on Price
Apartments are staying on the market longer, and price cuts are becoming more common—especially among sellers who initially overestimated the market.
According to Realtor.com, over 19% of listings nationwide had a price reduction this May—a trend reflected in parts of New York as well. While not every seller is slashing prices, those who priced too aggressively are now adjusting, giving buyers more negotiating power than they’ve had in years.
This doesn’t mean prices are crashing—far from it. But it does mean realistic buyers with strong agents are in a prime position to strike.
Bottom Line
This summer, New York buyers have a powerful combination on their side:
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More apartments to choose from
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Less buyer competition
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Greater pricing flexibility
If you’ve been waiting for a better moment to buy in NYC—this might be it.
Ready to start your search? Let’s connect! From Manhattan to Brooklyn and beyond, I’ll help you navigate the process with confidence.
**Contact me today—because Who You Work With Matters! **
