Off Market Only.
That's what sellers are saying these days, as uncertainy over the market and the effects of the the new mayorship of NYC.
They don't need the money, and and are very happy with their property.
No upsizing or downsizing, just stagnant. These are fully paid off apartments and townhouses in high-demand areas, that would be sold quickly for a fair price. But these owners are only considering selling at 10%-20% over market value, which means that they would never sell on the open market.
The turnover that defines the real estate market, is disappearing fast.
Many buyers are looking for specific addresses, and are seeing nothing available online.
Now more than ever, the importance of hiring a buyer's agent is coming to the fore. When listings are non-existant, you need someone to search and find that elusive apartment.
I have four (!) such searches going on as we speak, and foresee this as the most valuable skill set of 2026.