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Contract activity — the number of signed contracts — is up 10.8% year-over-year, though still 7.2% below the monthly historical average, indicating a market performing slightly below seasonal norms.
The median sales price for a Manhattan apartment stands at $1.1 million, marking a 3.5% annual decline.
Active listings have increased 1.9% compared to last year, while pending sales rose 15.3% year-over-year.
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South Florida’s housing market is sending mixed signals in 2025. On one side, luxury homes and high-end condos continue to set records, with properties selling for over $100 million. On the other, older condos—especially those built in the 1980s—are stagnating. Many buyers are wary of outdated buildings facing costly repairs and stricter reserve requirements imposed after the 2021 Surfside collapse.
Today, 87% of the 25,051 condos for sale in the tri-county area are over 30 years old. Prices ...
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Contract activity, or the number of signed contracts, is up 3.1% year over year, but remains 7.8% below the monthly historical average, showing that the market is still performing below typical seasonal levels.
The median sales price for a Manhattan apartment is $1.23M, reflecting a 1.2% increase compared to a year ago. The supply, or the number of units available on the market, has decreased by 2.2% annually.
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South Florida’s condo market is under mounting pressure, especially for aging buildings. A 1,358-square-foot (126 m²) Palm Beach unit in a 60-year-old building was recently cut from $849,000 to $649,000—symbolic of a broader slowdown. While showings remain high, actual buyers are scarce.
The causes are structural. Nearly 87% of the 25,000+ condos for sale are over 30 years old, and since the Surfside collapse, new laws require costly repairs and full reserves—making financing difficult. Many owners struggle to afford special assessments.
International demand, once a key ...
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