The final quarter of 2025 has arrived and we’ve not only weathered tariff chaos, sticky inflation, elevated rates (that are finally easing), and the usual swirl of political theater that comes with a New York mayoral election; we’ve thrived.
Sales volume remains stable across much of the city, and sellers are becoming morerealistic. In several corners of Manhattan and Brooklyn, pricing has reached record- breaking levels. This is a reflection of a deepening ultra-wealthy buyer pool and tight inventory. (The DOW’s record highs tell the same story: quiet confidence is returning to the market.)
The next few months will undoubtedly center around the mayoral election, which always brings a renewed focus on the city’s future. Whoever wins will inherit the same New York City realities: a massive budget, complex infrastructure, committed unions, and millions of passionate, engaged citizens. Campaign promises are one thing; governing New York City requires pragmatism, persistence, and partnership. This is a tough city, built by tough people and it’s strong enough to handle whatever comes next.
THE NEIGHBORHOOD PULSE: Momentum is quietly shifting on the ground. Uptown, open-house attendance has picked up over the last two weekends as buyers recalibrate expectations. Downtown, the $2M–$3M range has tightened, and well-presented listings are moving faster. Brooklyn’s brownstone belt remains steady; price-sensitive, but resilient with family buyers prioritizing space and stability over speculation.
Across the board, we’re seeing renewed curiosity from sidelined buyers. Many are realizing that waiting for a “perfect” rate might cost them a perfect-property.
THE BUYER’S LONG GAME: For those currently on the field or thinking of stepping in, this is what a cycle looks like: High rates and low inventory suppress sentiment, which leads to less activity, less competition, and more negotiable pricing. Then the cycle turns: rates drop, inventory expands, confidence returns, competition intensifies, and prices rise.
Right now, we’re sitting in that rare in-between moment; a blend of lower inventory, lower competition, and more flexible pricing. It’s not glamorous. It’s the grind phase of a real estate cycle. The one that rewards buyers with vision and patience.
Finding the right home now might mean hunting through the rough, but the advantage is locking in today’s price. The purchase price never changes. The mortgage rate can. Refinancing is a fine option down the road.
LOOKING AHEAD: At the Germany Sears Team, we’ve seen this movie before and the ending favors the prepared. Strategic buyers who stay focused while others hesitate often find themselves holding the strongest positions once the cycle turns.
If you’re considering buying or selling this quarter or in Q1 2026, now is the time to start planning. It’s never too early to position yourself for success. I’d love to swing by for a quick chat, review your goals, or simply grab a cup of coffee to discuss the market and your next move.
Fall in New York rewards those who look forward, not back. Let’s look forward together.
Warmly--Gerald
Germany + Sears Team | Compass
NYC Cultural Inspiration
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All best--Gerald Germany
