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Real Estate

How many NY sellers are giving buyers concessions?

Unfortunately for New Yorkers, the percentage isn't as high as the national average.

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Kim Heinemann (Tran), Community Contributor
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(Created by: Kim Heinemann Source: Redfin)
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It seems like sellers are more willing to give concessions lately. In the 3 months ending Feb. 28, they gave buyers concessions in 46% of home sales, according to a Redfin report. Redfin started recording this stat in June 2020 and so far, this is the highest share percentage of any three-month period.

The same period a year prior, sellers gave buyers concessions in just 31% of home sales.

While this is a good number, it's a national average. In looking at just the NY metro area, sellers gave buyers concessions in just 17% of home sales, up from 16% in the same 3-month period a year prior.

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