Big Sales Signal Strong Spring Market

March 2, 2026

Even with major a snowstorm - that typically create pent-up demand — many smart buyers leaned in - choosing to move before the full force of the spring market hits.

And it showed.

Most notably at the very top: signed contracts on homes priced at $10M+ surged above 40. Historically, the luxury market tends to move first. When that segment accelerates, it’s often an early indicator of broader strength to come. We’re already seeing an impressive number of big-ticket sales — momentum is building.

Top February contract at the new developement, 1122 Madison Ave (pictured left), where the Penthouse traded for $89.5M (last ask).

THE BACKDROP

The 10-year Treasury dipped below 4%, and mortgage rates followed suit. Bonus season payouts are in full swing. Tax refunds are hitting accounts. Wages are up modestly. Equities are hovering near record highs. The U.S. economy continues to grow — slowly but steadily. Inflation remains around 3%.

Spring — historically the strongest market of the year — is days away.

And here’s the piece many sophisticated buyers are focused on: value relative to replacement cost.

New York City did not experience the same post-COVID price surge that much of the country saw, especially after our major appreciation cycle from 2012–2016. Prices in many segments have largely stagnated over the past few years. Meanwhile, construction costs have soared.

In many cases, building the same home today would cost nearly double the current asking price.

New apartment construction in prime locations remains limited — and what does get built will come at significantly higher land, labor, and material costs.

Add it all up and what do you get?

A recipe for a STRONG Spring Market.

(pictured above - Top Feb Contract Runner up - 70 Vestry St, PHS | $65M (last ask))

THE BOTTOM LINE

Yes, global uncertainty — including war in the Middle East — creates ripple effects. New York City faces its share of challenges. But it is still New York City. Our dynamic, nuanced market rewards people who show up with strategy, data, and sharp execution. With 15 years of experience and a research-driven approach, my job is simple: help you make confident decisions, protect your downside, and maximize your upside — whether you’re buying, selling, or just watching the chessboard.

If you’re considering making a move this spring (or you want to evaluate your options), reply here and I’ll send you a tailored read on your neighborhood and price point.

Wishing you a sprightly, strategic, opportunity-filled Spring 2026!