Recent supply and pending timelines suggest buyers should negotiate from patience, not pressure.
If you are trying to figure out whether buyers still have leverage in Forest Hills, NY, I would say yes, but only if they use it carefully. The recent combination of 7 months of supply and long pending timelines gives buyers a reason to stay measured.
Recent multifamily conditions in Forest Hills, NY showed 7 months of supply, and pending listings over the last 3 months showed a typical market time of 143 days. The typical asking price for those pending properties was $1,193,500.
That is a useful setup for buyers because it suggests at least some sellers have needed time to secure a commitment. I would not treat that as permission to make careless offers, but I would absolutely use it as a signal to negotiate from a clear understanding of timing and value.
Ask how long the seller has been exposed to the market. Compare the asking price to the current active and pending benchmarks. Use patience as leverage, then write with purpose.
