Market Update: Spring 2026

The NYC market has been showing incredible strength. We’re seeing numerous properties spark bidding wars after one open house, with some areas commanding offers ~20% above asking price. While results vary by property, the city is undeniably leaning into a seller’s market.

To give you a small sampling of what this looks like in practice:

• In Prospect Heights, I priced a home at $725K in line with comps and ultimately closed at $880K.
• In Park Slope, a property listed at $2.25M recently traded for $2.65M; the top five offers were all cash.
• Compared to last year, this quarter, I’ve had to employ more competitive strategies to win property on the UWS and UES. Co-ops that previously stayed on the market with price reductions are now seeing immediate multiple-offer interest.

It is an excellent time to list, provided the strategy is right. The golden rule still applies: overpricing leads to stagnation, while smart pricing creates the market fervor necessary to drive up value and secure the cleanest terms.

Interest Rates
It’s no surprise that rates are fluctuating in light of global events. Melissa Cohn, an experienced mortgage broker at William Raveis, recently shared this perspective:

“If you had asked me a week ago, I would have told you that rates would head lower this spring. Now that the war with Iran has begun and oil prices have skyrocketed, mortgage rates have followed suit… Where rates will go this spring will depend on the duration of the war and the impact of higher oil prices on the rate of inflation.”

More remains to be seen, but there are ways to negotiate your rate. Your exact mortgage interest rate depends on several factors, including loan size, repayment terms, credit score, and down payment amount. By adjusting these variables, you can negotiate and secure a more competitive rate.