A Tale of Two Markets OR A Tale of Two Brokers?

There seem to be parallel universes at play in the New York City real estate market right now. As of the end of August, there were over 8,200 listings on the market, which is about 700 units more than an average August. Meanwhile, about 150 to 175 listings are going into contract every week since the reopening; a typical market week would see that figure at over 250 units.

According to these numbers, the market would be perceived as slow: high inventory, low demand. I hear many agents saying they're getting no phone calls, no emails, no requests to see the properties they're listing and marketing.

And yet there seem to be many more agents, like us, saying that this is the busiest they've ever been! The Hoffman Team has put 20 units in contract in August. We currently have over $10 million in buyers' offers out. We have an inventory of over $40 million in listings, and the majority of them are getting phone calls, offers and plenty of action.

So, what makes us so different? The Hoffman Team takes pride in educating our buyers and our sellers to embrace the unique opportunities that our current circumstances have to offer. We know that this is a difficult time for many, and we will help everyone work through this process as much as we can. But know that there are opportunities for all of those who choose to embrace the moment. We are here to help sellers move on and to assist buyers in starting anew. Whenever there is change, there is opportunity. If you lean into this historic time with positivity, possibilities can emerge, lives can heal, and our world can be reborn from the ashes of the, at times, scary and traumatic events we've been through over the last five months.

We choose to embrace this moment. We choose to take the opportunities and educate all who are ready to take this journey with us, whether that's new adventures outside of New York City or an exciting fresh start within our beautiful city. Either way – we think positivity will prevail. That's the tale we choose to embrace.

Compass News

Compass Launches AI-powered CMA Tool for Agents

Last month, Compass launched a brand new comparative market analysis (CMA) tool, powered by Compass' investment in artificial intelligence (AI). “Compass’ new CMA enhances our agents’ market expertise by making AI-powered recommendations and simplifying complex data so they can help their clients build the best possible pricing strategy for their home.”

Continue reading here.

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