These days, getting your price right when you’re ready to sell your apartment is more important than ever. You might be tempted to list high just to see what happens, but that strategy can backfire—and it could cost you the move you’ve been planning.
The Real Pitfall of Overpricing
Many apartment owners remember what their neighbor’s apartment sold for a few years ago and want to chase that same sky-high number. The problem? That was a different market.
Today, New York buyers have more options than ever. They don’t have to get into bidding wars just to compete—they can make offers at or even below list price. And if your price is unrealistic, they’ll move on.
Lisa Sturtevant, Chief Economist at Bright MLS, explains:
“Buyers will have more leverage in many, but not all, markets. Sellers will need to adjust price expectations to reflect the transitioning market.”
The good news? According to the Federal Housing Finance Agency (FHFA), apartment values have climbed significantly over the past several years. So, even if you compromise slightly on your sale price today, you’ll likely still come out ahead.
The challenge? Many sellers are stuck on what a neighbor received months or years ago—and that can be a costly mistake.
Overpricing Can Stall Your Move
Here’s what happens: a seller lists too high, buyers stay away, and no offers come in. The apartment sits. Suddenly, that seller faces tough choices: cut the price, stick it out, or pull the listing altogether.
A late price adjustment may not even help. Buyers can see it as a warning sign that something is wrong. Recent surveys from John Burns Research and Consulting (JBREC) and Keeping Current Matters (KCM) show over half of agents report more apartments being taken off the market than usual.
The reason? Homeowners didn’t receive offers they considered fair. As the survey explains:
“Sellers holding onto high price expectations is the leading reason they are delisting their apartments.”
This proves it: pricing too high doesn’t just turn buyers away—it jeopardizes your entire move. If no one is making an offer, how can you sell your apartment?
The Secret to Making Your Move Happen
Whether you’re relocating for work, need more space, or want to be closer to family, you can’t afford to get stuck. A smart pricing strategy starts with the right agent.
Sellers who succeed today work with experienced local agents who know the New York market and can have honest conversations about pricing. The result? Apartments in the right price range and condition are still selling quickly, sometimes with multiple offers.
Bottom Line
Pricing your apartment for today’s market isn’t just about selling—it’s about ensuring your move doesn’t stall before it starts.
Who You Work With Matters! If you’re thinking about selling your New York apartment or just want advice on pricing, please contact me. Let’s make your move happen.
