Patience can help, but only when it is tied to the right listings.
If you are thinking about waiting for a better opening in Kew Gardens, NY, I would be careful not to confuse patience with progress. The market gives you enough room to compare properties, but that does not mean every delay improves your position. In Kew Gardens, NY, recent multifamily supply stood at 5 months, and the active set includes listings with 1, 18, 45, 50, and 58 days on market. That tells me timing matters most at the property level, not just at the market level.
The current asking range runs from $1,099,000 to $1,988,000, with a typical asking point of $1,499,000 for new listings over the last 3 months. Because market time varies so much from one listing to another, I would not apply the same waiting strategy to every property you are considering.
For a buyer, the best use of patience is targeting the listings where time on market has already created a more negotiable setup. In Kew Gardens, NY, a home that just came on deserves a different response than one that has been sitting 50 or 58 days. Waiting on the wrong property can cost you a fit that mattered waiting on the right one can improve your leverage.
Act fast on the home that clearly checks your key boxes. Slow down and test value on the longer-market listings. Use patience where it creates leverage, not where it simply delays a good decision.
