MANHATTAN MARKET UPDATE
AUGUST 2025
New York City
MARKET OVERVIEW
CONDO, CO-OP AND SINGLE-FAMILY HOMES
Date Range Aug 2024 vs Aug 2025
Contracts signed in August 2025 slightly decreased compared to August 2024, with 1,112 versus 1,164. Days on market increased marginally from about 95 to 102 days, indicating a slight slowdown in signing speed. Price per square foot dropped from $1,271 to $1,280, suggesting a modest cooling in market pricing power. Overall, the signing activity shows a stable but slightly softened demand compared to last year.
Median recorded home prices rose from $800K in 2024 to $862K this year, with price per square foot increasing from $821 to $903, indicating continued price growth. This suggests sellers are achieving higher sale prices despite a small pipeline of contracts. It reflects a resilient market where prices are still trending upward, even as contract signing activity has seen a slight dip.
New York City
NEW AND RESALE CONDOS
Date Range Aug 2024 vs Aug 2025
Condo contract signings declined from 586 in 2024 to 531 in 2025, with a small increase in median days on market from 92 to 96 days. Price per square foot grew from $1,412 to nearly $1,494, highlighting ongoing price appreciation in condo markets. The slowdown in signing volume may signal a slight shift, but prices remain buoyant.
Median condo prices increased from $1.12M to about $1.25M, with price per square foot edging up from $1,269 to $1,365. This indicates strong price growth and sustained buyer interest even as transaction volume decreased, showing condo markets are still appreciating in value.
New York City
Date Range Aug 2024 vs Aug 2025
Co-op contract signings stayed relatively stable, slightly up from 518 to 524, but showed a small increase in days on market from 98 to 101 days. Price per square foot dropped slightly from $929 to about $894, pointing to a mild softening in property value or buyer negotiation.
Median coop prices increased from $544K to $584K, with a decrease in price per square foot from $703 to nearly $601. The market remains solid, though there’s a slight slowdown in transaction speed and price growth relative to last year.
New York City
SINGLE-FAMILY
TOWNHOUSES AND DETACHED SINGLE-FAMILY HOMES
DAYS ON MARKET
Single-family home contract activity decreased from 57 to 50, with days on market slightly decreasing from 96 to 88 days, suggesting quicker sales or less inventory. Price per square foot remained stable around $700, indicating steady valuation.
Median sale prices rose from $816K to $858K, with price per square foot slightly increasing from $570 to $573. The single-family sector shows healthy price gains and stable transaction times, reflecting consistent buyer demand.
New York City
NEW DEVELOPMENT
NEW DEVELOPMENT CONDO & CO-OP
Contracts signed in August 2025 decreased to 201 from 258 last year, with properties spending a median of 20 days on market this period. This suggests a slowdown in new contract activity and slightly quicker sales times compared to last year.
Currently, there are around 9,974 unsold units on the market, with 1,457 actively on the market, indicating stable but elevated unsold inventory levels compared to only 176 last year, which may suggest a more balanced or slightly buyerfavorable market.
CLOSINGS
Date Range Aug 2024 vs Aug 2025
9,974
Total New Units
1,457 8,517 UNITS
85% of new inventory is unlisted
The median price of recorded sales increased significantly to about $1.54M from $1.15M, with prices per square foot rising from roughly $1,383 to $1,672, reflecting a strong upward shift in recorded property values.
New York City
LUXURY MARKET REPORT
$4M+ PROPERTIES Date Range Aug 2024 vs Aug 2025
In August 2025, 98 luxury contracts were signed, a notable increase from 86 in the previous year, with a median of 151 days on market, consistent with last year’s 152 days. CLOSINGS The median recorded sale price for luxury homes rose to $6.175M in 2025 from $5.675M in 2024, with an enhanced price per square foot from $2,004 to $2,246.
New York City
$4M - $10M
MARKET - $4M TO $10M PROPERTIES Date Range Aug 2024 vs Aug 2025
Contracts signed for properties in the $4M to $10M range increased from 72 in 2024 to 80 in 2025, with days on market slightly rising to 151 from 147.5 days. CLOSINGS
The recorded median sale price for this segment slightly increased to $5.5M in 2025, and price per square foot climbed to $2,120 from $1,959.
New York City
There were 18 contracts signed for properties over $10M in August 2025, up from 14 in 2024, with a significant decrease in days on market to 151 from 204. CLOSINGS Recorded median prices rose substantially from $12.554M in 2024 to $13.4M in 2025, with per square foot pricing also increasing from $3,554 to $3,642.
New York City
CONDO MARKET REPORT
Date Range Aug 2024 vs Aug 2025
In the current period, condo contracts signed decreased slightly to 531 from 586 last year, with an increase in median days on market to 95.6 days, indicating a slightly softer pace but stable demand. Recorded sales prices rose to a median of $1.25M from $1.12M, showcasing price appreciation over the year.
Prices for recorded condo sales increased from a median of $1.12M to $1.25M, with price per square foot climbing from $1,269 to $1,365, reflecting continued strength and pricing growth in the condo market.
New York City
CONDO MARKET - STUDIOS Date Range Aug 2024 vs Aug 2025
Studio contracts signed remained steady at 44, but median days on market lengthened to 72.5 from 92 last year, suggesting slightly longer time to close while demand remains consistent. Median sale prices increased modestly from $660K to $690K.
Studio prices edged higher from $660K to $690K, with the price per square foot rising from $1,239 to $1,305, indicating stable demand and slight appreciation in this segment.
New York City
ONE BEDROOMS
CONDO MARKET - 1 BEDROOMS Date Range Aug 2024 vs Aug 2025
One-bedroom contracts declined from 228 to 163, yet median days on market slightly decreased from 89 to 84 days, illustrating a possible return to quicker sales despite lower contract volume. Median sale prices increased from $858K to $924K.
Prices rose from a median of $858K to $923K, with an increase in price per square foot from $1,222 to $1,278, reflecting steady price growth for 1-bedroom units.
New York City
TWO BEDROOMS
CONDO MARKET - 2 BEDROOMS Date Range Aug 2024 vs Aug 2025
Two-bedroom contracts held steady at around 204 last period, with median days on market increasing from 91.5 to 98 days, indicating a slightly slower pace. Median sales price increased to $1.49M from $1.34M.
Prices increased from $1.34M to $1.49M, with a rise in price per square foot from $1,271 to $1,370, showcasing continued strength and demand for larger condo units.
New York City
THREE BEDROOMS
CONDO MARKET - 3 BEDROOMS Date Range Aug 2024 vs Aug 2025
Three-bedroom contracts declined slightly from 96 to 90, but days on market increased to 131 from 95, suggesting a slower selling pace for larger units. Median prices rose significantly from $2.425M to $2.831M.
Prices grew from $2.425M to $2.831M, with price per square foot climbing from $1,440 to $1,633, highlighting strong appreciation for premium-sized condos.
New York City
FOUR+ BEDROOMS
CONDO MARKET - 4 BEDROOMS
Date Range Aug 2024 vs Aug 2025
Four-bedroom contracts increased from 18 to 30, though days on market remained high at 150 vs. 173.5 last year, indicating a more active market segment with steady demand. Median prices jumped from $4.75M to $6.02M.
Prices surged from $4.75M to $6.02M, with price per square foot rising from $1,816 to $1,968, reflecting strong demand and price appreciation for luxury, larger units.
New York City
CO-OP MARKET REPORT
Date Range Aug 2024 vs Aug 2025
In August 2025, contracts signed across all market segments remain largely stable compared to last year, with a slight overall increase in units and a median DOM around 100 days for coops. The single-family segment shows a small uptick in signed contracts, indicating consistent buyer interest.
Prices for recorded co-op sales increased modestly last year, with a median price around $544K, but the price per square foot dropped from roughly $703 to $601, suggesting some easing in pricing intensity.
New York City
CO-OP MARKET - STUDIOS
Date Range Aug 2024 vs Aug 2025
Studio contracts signed are slightly down year-over-year, with a median DOM around 90 days in 2025, reflecting consistent demand but slower signing speeds compared to previous year.
Median sale prices for studios have increased marginally to $402K, while the price per square foot declined sharply from $914 to $585, indicating recent price moderation after earlier peaks.
New York City
ONE BEDROOMS
CO-OP MARKET - 1 BEDROOMS Date Range Aug 2024 vs Aug 2025
One-bedroom contracts signed remain stable, with a median DOM just under 95 days. The slight increase in units signed suggests steady demand for this size, consistent with prior year.
Prices for recorded 1-bed co-ops have hovered around $505K, with a notable drop in ppsf from over $653 to $554, pointing to some price stabilization or softening in recent sales.
New York City
TWO BEDROOMS
CO-OP MARKET - 2 BEDROOMS Date Range Aug 2024 vs Aug 2025
Two-bedroom contracts signed are nearly unchanged from last year at about 154 units, with median DOM at 108 days, reflecting sustained interest among buyers.
Median sale prices increased slightly to $840K, but the price per square foot fell from about $659 to $537, indicating some pricing softness despite stable sales volume.
New York City
THREE BEDROOMS
CO-OP MARKET - 3 BEDROOMS
Three-bedroom signed contracts increased in volume with 72 units, and median DOM remained consistent at around 105 days, showing ongoing demand for larger homes.
Prices rose significantly to a median of $1.76M, but ppsf decreased from $754 to $753, suggesting that while larger units are selling for higher prices, the price per square foot is more moderate compared to last year.
New York City
FOUR+ BEDROOMS
New York City
TOWNHOUSE MARKET REPORT
TOWNHOUSE AND SINGLE-FAMILY HOMES Date Range Aug 2024 vs Aug 2025
Contracts signed for residential sales increased slightly to 104 from 91 last year, with days on market decreasing to a median of 90 days from 92, indicating a slightly quicker pace in signing new contracts.
Recorded sales prices rose modestly to a median of $972K from $900K, while price per square foot saw a slight dip to $522 from $530, suggesting stable but slightly softened sale prices.
MANHATTAN MONTHLY REAL ESTATE OVERVIEW
Introduction
The Manhattan real estate market in August 2025 has shown a mixed performance across various segments. While certain sectors have demonstrated a notable uptick in average prices, others have experienced contractions in activity levels.
Marketwide Overview
Overall contracts signed decreased by 12 84%, while the average price increased significantly by 12 02% to $2 17 million The number of new listings also faced a sharp decline of 38 36%
New Development
This segment experienced a reduction in contracts signed by 30 08%, but a remarkable increase in average price by 56.20% to $4.82 million. New listings dropped by 39 31%, reflecting reduced supply Luxury ($4M+)
In the luxury sector, contracts signed saw a slight decrease of 5.68%. However, there's a marked increase in average price by 12 94% to $8 66 million, and despite fewer new listings, the dollar volume rose by 6.52%.
Resale Condo
This segment showed a more stable average price increase of 3.30%, with a drop in contracts signed by 9.74%. New listings also reduced substantially by 36 34%, indicating shrinking inventory
Resale Co-op
Resale co-ops faced a decline in both average price, down by 3 20%, and contracts signed decreased by 15 03% New listings also fell by 35 45%
Single-Family
Despite overall low activity, contracts signed soared by 133 33%, with a modest increase in average price of 2.16%.
Multi-Family
Multi-family properties showed a significant increase in average price by 19.36%, though contracts signed remained modest with reduced listings.
Overall, the market evidences fluctuating trends, with selective strength in price levels despite general slowdowns in transactions and new supply.
Market Pulse
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Liquidity Pace Chart
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Optimal Time To List
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Monthly Contract Activity
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Monthly New Supply
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Monthly Price Cuts
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Listing Success
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Climate Index
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Net Inventory Trends
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Pending Sales
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Off Market
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Days On Market
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Pricing Penalty
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Monthly Closed Sales
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Median Sale Price
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Price Per Square Foot
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Median Listing Discount
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Months Of Inventory
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Discount To Dom
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Sales Over Asking Price
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