Greetings!
Summer sunshine has arrived in Manhattan, and the market is easing into the season with quiet strength—condo contracts up 11.7%, co-ops 16.4%, while inventory crept a gentle 1.2% higher, giving shoppers a bit more breathing room without dimming sellers’ confidence.
Luxury still shimmers. Well-priced, high-quality homes kept their sparkle at a $5.95 M median, and negotiability tightened. New developments leapt 28.9%, with turnkey beauties in the $2 M–$5 M range winning hearts.
Owners are nesting longer. The average New Yorker stays put for 12 years—double the 1980s—yet thoughtfully priced listings linger only about 121 days before finding their next match. Rental rule change ahead. The new FARE Act caps tenant-paid broker fees, already stirring rental conversations and likely to echo into summer buying habits. We’re watching closely and will keep
you posted.
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We’re here for you. Whether you’re curious about your home’s value, mapping your next NYC chapter, or just want to chat strategy over coffee, reach out—no pressure, simply warm expertise.
Manhattan Market by the Numbers
New Listing
| May 2025 | |
|---|---|
| Number of New Listings | 2,477 |
| Average Price | $2,339,622 |
| Median Price | $1,375,000 |
| Average Price per Square Foot | $1,636 |
Contract Signing
| May 2025 | |
|---|---|
| Number of Contracts | 1,039 |
| Average Price | $2,287,149 |
| Median Price | $1,385,000 |
| Average Price per Square Foot | $1,583 |
| Days on Market | 93 |
Manhattan Luxury Report
Luxury Contracts Signed
| Luxury Market $4M+ | May 2025 | YoY% |
|---|---|---|
| Number of Contracts | 152 | 12.6% |
| Average Price | $7,590,793 | -15.4% |
| Median Price | $6,000,000 | -4.0% |
| Average Price per Square Foot | $2,645 | -8.6% |
| Days on Market | 139 | -0.7% |
Top 5 Luxury Contracts
| Address | Price |
|---|---|
| 80 Clarkson St, Duplex 15B | $25,875,000 |
| 15 East 30 St, PH 60A | $25,000,000 |
| 995 Fifth Ave, 16 | $24,250,000 |
| 1125 Fifth Ave, 10 | $20,000,000 |
| 988 Fifth Ave, 4 | $20,000,000 |
What Can Sellers Expect This Spring Season?
Summer brings sustained buyer demand—but with more listings hitting the market, the bar for standing out is higher. Buyers remain active yet discerning, with a clear preference for move-in-ready properties that feel thoughtfully cared for. Sellers who invest in pre-listing prep—think fresh paint, minor upgrades, and strategic staging—are seeing stronger traction and faster offers. On the flip side, homes that appear dated or overpriced risk sitting longer. Pricing with precision and presenting with intention will be key to capturing momentum in this season’s competitive landscape.
What Can Buyers Expect This Summer Season?
Buyers can expect a lively, fast-paced summer market. Inventory is climbing, but so is competition—especially for well-priced, well-presented homes. While there are more options on the table, desirable properties are still moving quickly, often with multiple interested parties. Success this season comes down to preparation: have your financing lined up, understand your must-haves vs. nice-to-haves, and work with a savvy agent who can help you move with confidence and speed. Being ready to act decisively can mean the difference between landing your dream space or missing out.
