What Will the 2025 Real Estate Market Look Like?

Are you a property owner that wants to sell their condo, investment property or needs to rent an apartment or retail space in New York City? Call or text me: Sam Moritz, licensed real estate agent, 203–209–3640.

Do you know a property owner that might need real estate help? Refer me! I provide great and professional real estate services across all five boroughs.

What are you looking forward to in 2025?

Personally, I have maybe the biggest move of my NYC life coming up (I’ve lived in North Brooklyn for most of the past eleven years, but moving soon to a new apartment in a different, non-Brooklyn borough with my girlfriend, which I’m very excited about. Don’t worry, I’ll still be covering all five boroughs if you need help in Brooklyn).

I also have some travel aspirations: I’d like to go to Alaska. Er, that’s the only destination that comes to mind right now.

What will the real estate market look like in 2025?

As I’m sure you’ve heard, interest rates will not drop significantly. But that doesn’t mean that the sales market will come to a screeching halt. We’re in NYC – there’s such a robust amount of buyers always looking for places to live and invest.

Interest rates aside, the question is: are you ready to sell?

As I’ve come to learn, for property owners, selling is a very emotional real estate decision, way different than the decision to list a commercial space or apartment for rent, which is way more straightforward.

Selling occurs because another decision has been reached.

If you’re a condo owner, maybe you need a more spacious apartment for your growing family.

If you’re a building owner, maybe you’d like to move on from managing your property, which might include completing paperwork with the city or running to the building to clean the hallways or managing someone else to take care of the trash, etc.

Or maybe you want to sell the building so you can do a 1031 exchange and take the money from your sale and buy something else – maybe the country house you always wanted, or a condo for your son or daughter, or a different investment property.

Sure, significantly lower rates might result in a higher sales price for your property, but I don’t think, like, a million dollars more.  

The question is, if you sell: are you ready, from a life perspective, to move on?

In terms of rentals – I’ve been saying this since the end of the summer: but I think the NYC rental market is due for a slight correction (not a big one at all). I’ve had apartments sitting unrented for many months – an unusual occurrence in my eight year career working in real estate. Usually, apartments fly off the shelves, unless they’re overpriced.

I’ve written about my theory about the lack of movement on the rental front. I think Covid caused rental prices to plunge. Then, in 2021, a sudden heavy surge of renters, no longer working from home seven days a week, caused prices to rise significantly. But this high was a bit of a bubble. We’re due for a slight decrease (ever so slight).

Anyway – if you might need sales and rental help this year, I hope to be your guy.

Are you a property owner that wants to sell their condo, investment property or needs to rent an apartment or retail space in New York City? Call or text me: Sam Moritz, licensed real estate agent, 203–209–3640.

Do you know a property owner that might need real estate help? Refer me! I provide great and professional real estate services across all five boroughs.