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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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While much of the U.S. real estate market is slowing down due to high interest rates and economic uncertainty, Manhattan is experiencing a surge in sales. In the second quarter of 2025, residential transactions reached their highest level in the past two years, marking a 16.6% increase compared to the same period in 2024.
Cash deals accounted for a record 69% of all transactions, reflecting the growing presence of affluent buyers who are less ...
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Contract activity, or the number of signed contracts, is up 10.8% from last year and down 3.6% from the monthly historical average. The median sales price for a Manhattan apartment is $1.19 million, reflecting a 13.4% increase compared to the same time last year. The supply, or the number of units available on the market, is essentially the same as last year, having decreased by just 0.3% annually. Meanwhile, the number of pending sales in Manhattan has risen 28.4% year-over-year. The Market Pulse, which represents the pending-to-active ratio, stands at 0.46, indicating a neutral ...
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