As usual, Fall is speeding by. For me, it always feels like the time between Halloween and New Year’s rushes by in the blink of an eye.
As we head deeper into fall, it’s getting harder to make any one-size-fits-all statement about the real estate market. Some reports show inventory ticking up—by as much as 8%—while others show it slightly down year-over-year. What’s clear to me, though, is that in the parts of Brooklyn where I work, we’re still dealing with an undersupply of homes for sale.
A Market of "Micro-Climates"
From where I sit, it feels very compartmentalized. Some segments—and certain neighborhoods—are absolutely on fire (just ask anyone hunting for a three-bedroom in Cobble Hill or Brooklyn Heights). There’s practically no inventory, and prices are sky-high. Meanwhile, other parts of the market feel softer. Buyers there have more options, and they’re taking their time.
The Two Buyer Mindsets
There’s a lot of uncertainty out there, and buyers seem to fall into two main camps right now.
The first camp believes rates will drop eventually—and when they do, prices will likely rise. Their thinking is: buy now, refinance later. They’re confident in their jobs, their savings, and their decision to move forward.
The second camp is playing the waiting game. They’re keeping an eye on rates, the upcoming mayoral election, the economy, and their own finances. They do want to buy, but it would take the perfect place to make them jump right now. In the meantime, they’re out looking, learning the market, and getting ready. That’s actually smart—because when they are ready, they’ll know exactly what they want and be able to act fast (even if it means paying a bit more come spring).
What This Means for Sellers
For sellers, this market can feel a bit confusing. You might have great turnout at open houses and positive feedback, but no offers. On the other hand, if your property happens to fall into one of those super low-inventory “everyone-wants-this” categories, it probably feels like a boom.
My Prediction for Spring
So yes—it’s a mixed bag. My gut says that if the broader economy holds steady, job losses stay low, and interest rates ease up, we’ll see a very strong spring market. More inventory, more confidence, and a lot more movement. Let’s see if I’m right.
This is a complex market, but it's not an impossible one. It's a market that rewards a smart, personalized strategy. If you're thinking about your next chapter and want to talk about how this all applies to you, I'm here to help. Contact me here.
