BRONX MARKET UPDATE
MAY 2025
New York
May 2025 New Signed Contracts
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$1
CO-OP
$1
$3
$4
Brooklyn
"The market for newly signed contracts declined annually for the first time this year, with condos recording the only overall annual gain. Newly signed contracts exceeding the $2 million threshold outperformed the rest of the market, achieving a modest increase. However, the annual growth rate for new listings above the luxury threshold was higher than that of the overall market."
$3.99M
Brooklyn (continued)
BRONX MARKET OVERVIEW
CONDO, CO-OP AND SINGLE-FAMILY HOMES Date
May 2024 vs. May 2025
Residential contract signings decreased from 39 to 31 year over year, with properties now selling faster as the median days on market dropped from 74 to 66 days.
The median sale price for recorded sales decreased to $350K from $395K, although price per square foot has risen from $337 to $344, indicating a potential focus on smaller, higher-quality units.
Date Range May 2024 vs. May 2025
Condo contracts increased from 1 to 4, with median days on market extending from 19 to 95 days, possibly reflecting strategic buying in a recovering market.
The median price for recorded condo sales dipped to $237.5K from $272.5K, but price per square foot increased from $328 to $350, suggesting a trend toward premium, space-efficient purchases.
Date Range
May 2024 vs. May 2025
Coop contracts decreased from 36 to 22, but the market has quickened slightly as median days on market improved from 75.5 to 71 days.
Recorded coop sales saw a slight decrease in median price from $234.56K to $225K, with price per square foot adjusting downward from $273 to $264.
TOWNHOUSES AND DETACHED SINGLE-FAMILY HOMES Date Range May 2024 vs. May 2025
Single-family home contracts rose from 2 to 5, reflecting a significant decrease in market time from 78 to 38 days.
BRONX REAL ESTATE MONTHLY OVERVIEW
The Bronx real estate market for May 2025 shows varied trends across different segments, indicating a dynamic environment for buyers and sellers
Marketwide Summary
Contracts signed increased by 9.38%, with an average price soaring to $623K, a 36.86% jump. Despite this, recorded sales dipped slightly by 7 23% The average price per square foot (PPSF) rose 8.70% to $390, highlighting a resilient market despite some declining metrics.
New Development
In the new development sector, recorded sales surged by 100%, though average prices fell sharply by 30 47% to $223K, indicating increased activity at a more accessible price point Dollar volume rose by 39 06%, suggesting a focused interest in entry-level properties. Luxury ($4M+)
Luxury market activity remained muted, with few contracts, but maintained a robust average price of $6 45M This suggests a stable, though less active, interest in high-end properties, with no significant changes in dollar volume.
Resale Condo
The resale condo market saw a mixed performance with contracts dropping 42 86%, although recorded sales rose by 27.27%. Average prices and dollar volume fluctuated but reflected a sustained interest, despite fewer contracts
Resale Co-op
Resale co-ops experienced a contraction, with lower average prices, down 20 33%, and a decrease in dollar volume However, a 29 73% increase in new listings suggests seller optimism
Single-Family
Single-family units showed strong growth in contracts signed, up by 150%, with a significant rise in average price and dollar volume, reflecting a demand resurgence.
Multi-Family
The multi-family sector saw mixed performance, with recorded sales slightly down. However, a stable average price of $827K indicates a steady interest among investors.
Data by | 6/4/2025