On neighborhoods
"Walkable, commuter friendly developments with all of the hottest amenities will be in high demand. The younger generation is coming into the market and has high lifestyle expectations."
Deborah Doern, Larchmont Brokerage Manager
On the market
"A balanced market will in effect allow for more sales albeit with reduced selling prices due to increase in supply. Multiple bids may still occur but nowhere near the 2017, 2018 markets. Buyers will have greater choices which will curb multiple bid scenarios to a great extent. These types of markets are the best from a consumer and real estate professional’s point of view and they provide greater opportunities in a less competitive environment. Buyers will demand higher quality product insofar as renovated, move-in homes vs homes that requires updating or major work all predicated on the increased inventory. Buyers will be shopping by comparison more than ever."
Geoffrey Berry, White Plains Brokerage Manager
"I predict 2019 will be the 'Year of the Project.' My logic is this: rising interest rates and continuing fallout from the tax law changes will continue to put some downward pressure on prices. As houses get more affordable, buyers will shift from a 'we don’t want to do any work' mentality to one of putting their personal stamp on a property."
Amanda Briggs, New Canaan Brokerage Manager
"With markets being less competitive, especially in the higher end, I think local buyers will see great value in trading up without any issues of selling their home to first-time buyers. Sellers will need to make sure their homes are looking pristine as interest rate increases are in the forecast making buyers overly cautious of taking on a renovation. Condition will outweigh size as the trend of smaller turnkey homes continues. Location will be key when looking at the trade up market as these locals know the town well and are certainly not in the market for a lateral move."
Brian Murray, Chappaqua Brokerage Manager
On the industry
"As millennial buyers continue entering our markets, they'll continue their overwhelming preference of local brands with a give-back component. Actions speak louder than words, and we're proud to have 130 years cementing our commitment to the communities we serve."
Anne Marie Gianutsos, Chief Marketing Officer