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s we enter 2025, it's a prime time for a real estate market check-in on Long Island. Our esteemed Roundtable panel shares their predictions for the year ahead.
Debra Quinn Petkanas of Daniel Gale Sotheby's International Realty in Sea Cliff notes that the post-election sales activity and holiday season sales have created optimism for a robust 2025 market. However, inventory remains scarce across all price ranges, with most buyers seeking new construction or renovated homes due to lack of time and imagination for renovation projects.
Glen Fox of The Fox Team at Douglas Elliman in Long Beach sees promising signs for the market, with stabilizing inventory creating opportunities for both buyers and sellers. Low interest rates and a strong local economy support steady property appreciation, making 2025 a great year for real estate on Long Island.
Megan Branigan of Branch Real Estate Group in Sea Cliff expects key changes in the market, including a gradual rise in inventory, modest median home price growth, and slightly lower mortgage rates. This shift will provide buyers with more choices and drive increased sales activity, making 2025 a year of opportunity for those who adapt to these market dynamics.
Samatha Raimond of Fire Island Sales & Rentals is optimistic about another great year ahead for Fire Island's real estate market, citing rising supply and increasing demand. She anticipates a larger volume of transactions in 2025, with sale prices continuing to trend upward.
Nicholas Campasano of The Agency in Bay Shore predicts an increase in transactions year-over-year, driven by sellers adjusting to the "high-interest rate" environment. Buyers will continue to face challenges, but adaptability is crucial, and first-time buyers should prioritize value over perfection. Sellers with turnkey properties or standout features will remain in control, and highlighting these features effectively is key to maximizing returns.
Whether you're a buyer or seller, 2025 promises to be a year of strategic decisions, requiring experienced professionals to navigate the evolving market and achieve your goals.
