NY Sellers Are Sweetening the Deal: What Buyers Should Know

If you're shopping for a home in New York this spring, there's good news—sellers are more motivated than they’ve been in years. According to Redfin, seller concessions are increasing nationwide, and we’re seeing the same trend here in Westchester, Long Island, and NYC boroughs.

These concessions often include:

• Paying a portion (or all) of the buyer’s closing costs
• Offering mortgage rate buydowns
• Credits for repairs or renovations
• Covering moving expenses or including home warranties

In high-cost counties like Westchester and Nassau, where listing prices remain elevated, buyers are leveraging these perks to offset the impact of high mortgage rates.

Mortgage Master Tip:

Even if the list price doesn’t budge, concessions can equal thousands in savings. That’s real money you can keep in your pocket—or use to reduce your interest rate.

NY Market Insight:

Homes are spending longer on the market in parts of the Hudson Valley and Long Island, especially those priced above the median. Sellers are becoming more flexible, particularly if they’ve already bought a new home.

Final Word:

This is your chance to negotiate beyond the price tag. Don’t just look at the asking price—look at the total deal.

Source: Redfin – Q1 2025 Seller Concessions Report