February 2025 with Stephanie Olivero

Manhattan | Brooklyn | Bedford

New York

Dear Clients, Colleagues, and Friends:

Happy Valentine's Day to you! While halfway through month #2 of 2025, I'm appreciating the afterglow of a holiday season that was simple, not overscheduled, and with a spirit that carried forward into the current year. I'm appreciating how much can get done when we slow down and allow time and space for creative thinking, doing, and collaborating. Rich strategy calls with clients. Expansive relationships with professionals and creatives who are passionate about their work and clients. For me, enjoying the synergy of life and work in the city and 'the country' is so fulfilling, and I'm so grateful to be able to work with wonderful clients in both the city and Westchester markets.

So how is the real estate market? It's picking up! It's slow! There's no inventory! There's too much competition! These sentiments are shared on my weekly Monday morning calls with fellow agents throughout NY; same market, different perspectives, and unique experiences. Why is the state of the market so contradictory? The answer is that market conditions can't be generalized across neighborhoods, categories (co-ops vs new construction condos, move-in ready restored farmhouses vs inferior construction), sizes (studios vs 4 bedroom lofts), or price points ($250K - $90M)... yes, the highest priced property in the city right now is a 6 bedroom/9 bathroom condo on Park Avenue for $90M while an apartment on the Upper East Side is also available for $250K. The key is to note the behavior, but tap into what's most important to you and your lifestyle, and recognize the opportunities as buyers and sellers in this market. Always happy to chat further on that...

This month I'm focused on guiding buyer clients at different stages of their search and prepping a few fantastic properties that will be hitting the market for sale very soon - it will be an active Q1/Q2 and I look forward to sharing details with you very soon.

Wishing you a wonderful weekend!

Pop-in at The Met

The winter months are a great time to pop into the Met. Each time I visit, I'm attracted to something different, and this time it was Georgia O'Keeffe’s Cow's Skull: Red, White, and Blue in the American Wing and everything in the period rooms. Details here.

L'Appartement 4F

Home to the

Pistachio Rose Croissant, L'Appartement 4F has opened it's second spot at 119 W 10th Street in the West Village. Meanwhile, their original Brooklyn Height's location now features savory small plates, including red snapper crudo, French cheese plates, salted chocolate mousse with crème fraîche and more.

Details here.

Let's Explore! Bedford, NY

As both a contrast and a complement to life in the city, there is so much to love in this very special region in Northern Westchester. Bedford truly feels like ‘country living’, with conveniences, only 40 miles north of New York City. Join me here, as we tour the charming hamlets of Bedford, NY.

Manhattan, Brooklyn, and Westchester County partner nicely to offer the best of city, suburban, and country living throughout New York State.

Metro-North Railroad has commuter train stations from Grand Central Station in the city and throughout Westchester county (get a seat by the window for the views); The Westchester County Airport in White Plains makes travel in and out of Westchester a breeze.

Cocktail Corner:

The French Blonde

This one has been on rotation at the house: lillet Blanc, fresh grapefruit juice, gin, St-Germain elderflower liqueur, fresh lemon juice. It could easily be prepared without the alcohol if preferred.

Recipe and details here.

Bedford Post Tavern

We are still pinching ourselves over last year's opening of the Bedford Post Tavern - what feels new is enjoying it during the quiet winter season, whether it's a quiet Monday night with a friend or a buzzy Saturday date night. Favorites include the grilled branzino, braised short ribs and the sorbet for dessert. Fantastic! Details here.

Candlelight Concerts

Candlelight concerts offer a live, musical experience in unique destinations throughout the world - my husband and I recently enjoyed a 1 hour performance of Vivaldi’s Four Seasons on a snowy Saturday evening in Mt. Kisco - they offer multiple themes including Adele, Fleetwood Mac, Hans Zimmer and more. Details here.

Target

Taper Candle Set

This striped candle set ($10/6-pack) adds whimsy to any room in the home - I'm using them on our dining room fireplace mantle and love the subtle pattern.

Details here.

Amazon

Magnetic Knife Holder

This has been a great addition in our kitchen and so easy to install.

Details here.

Target

Faux Shagreen Decorative Boxes

I'm not a minimalist, but I like to keep items in their place and I'm always on the hunt for decorative storage boxes. These boxes are available in 2 sizes ($15 small, $20 large) and the blue is a perfect winter hue. Details here.

Quince

Striped Cashmere Sweaters

At $60 each, these cashmere striped sweaters are the perfect winter wardrobe addition. Available in Navy/Ivory, and Ivory/Black, I only wish they came in more color combos (@Quince, are you listening?).

Details here.

Amazon

No Slip Rug Pad Grippers

Finally a solution for those rolling corners. These grips work so well on area rug corners that I buy them in multiple packs.

Details here.

NYC | Q4 2024

Manhattan

Avg sale prices were up, sales transactions were up, signed contracts were up, and total inventory was down vs Q4 2023... overall, it's a recipe for a seller's market, with opportunites for both buyers and sellers.

• Avg Sale Price: $2,073M (+2.7% vs Q4 2023)

• # of Sales Transactions: 2,405 (+10.6% vs Q4 2023)

• # of Signed Contracts: 2,232 (+6% vs Q4 2023)

• Total Inventory: 5,369 (-8.6% vs Q4 2023)

• Avg Discount: -7% (-8% in Q4 2023)

• View the full report here.

Manhattan Townhouses

Avg sale prices were down, sales transactions were down, signed contracts were down, and total inventory was up vs Q4 2023... overall, it's a recipe for a buyer's market, with opportunites for both buyers and sellers.

• Avg Sale Price: $8,804M (-10.8% vs Q4 2023)

• # of Sales Transactions: 23 (-4.2% vs Q4 2023)

• # of Signed Contracts: 27 (-20.6% vs Q4 2023)

• Total Inventory: 224 (+14.9% vs Q4 2023)

• Avg Discount: -17% (-18% in Q4 2023)

• View the full report here.

Brooklyn

Avg sale prices were up, sales transactions were up, signed contracts were up, and total inventory was down vs Q4 2023... overall, it's a recipe for a seller's market, with opportunites for both buyers and sellers.

• Avg Sale Price: $1,297M (+4.4% vs Q4 2023)

• # of Sales Transactions: 2,292 (+7.7% vs Q4 2023)

• # of Signed Contracts: 1,560 (+6.6% vs Q4 2023)

• Total Inventory: 2,863 (-4% vs Q4 2023)

• Avg Discount: -5% (-5% in Q4 2023)

• View the full report here.

Westchester County | Q4 2024

(single family homes, YTD)

For the close of 2024, avg sale prices were up, sales transactions were slightly down, and avg days on market were down. In Q4 2024 vs Q4 2023, closed sales were up +6.8%, pending sales were up +15.5%, median sale prices were up +6% and available inventory was down -24.3%... overall, it's a recipe for a seller's market, with opportunites for both buyers and sellers.

• Avg Sale Price: $1,139M (+8.8%)

• # of Sales Transactions: 4,689 (-2%)

• Avg Days on Market: 43 (-9.3%)

• View the full report here.

Compass Throughout the Country...

Are you thinking about a move to a market other than Manhattan, Brooklyn, or Westchester County? I can introduce you to Agents in your preferred market who are ready to assist you...

contact me to discover your next location.