Selling a Home in Murray Hill

Murray Hill is one of New York City’s most desirable neighborhoods. Its real estate market can be competitive, but selling a home in Murray Hill can be an excellent experience with a little advanced preparation. A high number of interested buyers are looking to move into the region, resulting in a steady flow of offers for quality properties on the market. Those who learn about the sales process early often benefit from substantial rewards and yield high profits once the deal is closed.

As you gear up to sell your Murray Hill home, the agents at the Asset Advisory Team have outlined top tips and tricks homeowners should know before diving into the real estate market.

When interviewing real estate agents to work with on your home transaction, be sure to ask about their prior sales history and find someone with a history of selling similar properties. An agent with experience handling transactions on the same kind of listings will have the skill set to get yours sold.

For a relatively small neighborhood, Murray Hill has an impressive variety of real estate. It’s essential to hire a listing broker who knows as much as possible about your apartment, its building, and miscellany, like upcoming assessments, whether the building is in litigation, and whether there are unique financing rules. The best agent will discover all details that could affect a sale and communicate them to buyers as early as possible (whether in a listing or at first contact). It’s an added plus if the agent also lives in the neighborhood — who better to provide insight into the best restaurants, top schools, and community activities? Agents Michelle Reidy Quinn and Nick Montalbano, have lived in the neighborhood for a combined 24 years and are prepared to answer any questions about this impressive community.

In any Manhattan neighborhood, pricing is a crucial component of a home sale. A thorough real estate agent will start with a comparative market analysis to determine the best possible listing price for your property.

As of April 2023, we have 324 total active listings in Murray Hill. We can break these into three price tiers:

With your agent, ensure your home is priced correctly. You will want to price your home in the right tier and market it accordingly. However, it’s also important to consider the price of the property and how long it spends on the market. The longer a home sits on the market, the lower the selling price will be. Work with your agent to ensure the appropriate price for the value of your home and market accordingly to avoid a stale listing.

When preparing your home to sell, you can set yourself up for success by using strategies before listing it and being sure to present it in pristine condition. You can begin the sales process by taking the following steps:

If you want to boost your home value and increase its listing price, you can make a few upgrades to improve your property. Some of the most rewarding projects include renovating a bathroom, installing new flooring, or opening up the layout. These improvements may come with an upfront cost, but they will be able to yield a higher profit margin once the deal is closed.

While the best time to sell depends on your circumstances, the current climate of the local housing market will determine which times may be better to sell than others. Good times to sell are generally when a seller’s market occurs, and more buyers are looking to purchase homes than there are available listings. This allows you to price your home for top dollar and to be more selective when accepting an offer.

Many buyers turn to the internet to search for homes (StreetEasy being the most popular platform in NYC), so how your property appears in the online listing can significantly impact how many people view it. Therefore, staging your home for an excellent first impression and taking professional photographs are essential. Be sure to declutter the space, bring in decorative touches, and create an atmosphere for a sleek and functional look.

Once the time has come to sell your home, there are a few things you should be aware of regarding the sales process to ensure the transaction goes smoothly. Keep the following tips on selling a home in Murray Hill in mind as you prepare to list your property:

Once you begin receiving offers on your listing, there are two forms these offers will likely appear in. The first is a cash offer, which is when the buyer pays the deal in cash. The second is the far more common traditional method, which refers to when they finance the purchase through a mortgage. Carefully examine the terms associated with each offer to decide if a cash or traditional deal is better for you to accept.

Homeowners in Murray Hill typically have many questions when preparing to sell a property. To help you feel ready for the challenge, here are the top questions the agents on the Asset Advisory Team hear the most.

The amount of time it takes to sell a home in Murray Hill changes with each circumstance. However, the New York housing market has been slowing down in recent months, so the climate can be competitive for sellers. However, high-quality properties don’t tend to stay on the market for long and often proceed to the next stage in the sales transaction quickly.

You can take a few approaches if you hope to sell your home in Murray Hill sold quickly. First, you can ensure it appears in its best form during all tours and listing images to make it most attractive to buyers. Digital marketing can also have an enormous impact on generating offers, so getting your listing advertised across multiple platforms and working with an agent with marketing experience can also help speed up the sale.

To get the most money for your Murray Hill home, be strategic in your approach. List it in a prime season during a seller’s market, make improvements and renovations that add value, only post the best images in advertisements, and team up with an agent who doubles as a skilled negotiator. In doing so, you’ll be boosting your chances of earning top dollar.

If you’re planning on selling a home in Murray Hill, teaming up with a real estate expert can improve your experience in the housing market substantially. For assistance from leaders in the industry, contact the agents on the Asset Advisory Team today. Having managed countless transactions on outstanding properties in desirable communities throughout the region, our team can happily guide you through every step of the sales process and earn you top dollar on your listing.

_{*Header photo courtesy of Asset Advisory Team}