Manhattan Real Estate Activity | October 2025

October’s contract activity was both robust and surprisingly strong, even to us - especially considering its lead-up to the mayoral election. The significant leap from September is largely seasonal, yet the numbers tell a deeper story: contract activity not only climbed month-over-month but also outperformed the seasonal average by +15.56%, underscoring the market’s underlying strength.

The market continues to move toward more neutral territory, a healthy sign that balance is returning. Sellers are recognizing that strategic, competitive pricing is key to attracting serious buyers. As we always remind our clients: pricing is your #1 marketing tool, and the most successful sellers are pricing for today’s market, not six months ago.

- All signs point to an improving market compared to 2024. Inventory remains tight, as sales continue to outpace new listings.
Cash continues to lead: nearly 70% of all sales and over 90% of deals above $3M closed without financing.
Mortgage rates briefly touched their lowest levels in over a year before rebounding to around 6.3%, following the Federal Reserve’s 0.25% rate cut in late October, bringing the benchmark range to 3.75–4.00%.

And now, as New York City enters a new political chapter, the real estate market remains remarkably steady. Despite ongoing discussions of a "wealth exodus" and broader political uncertainty, the city’s luxury sector continues to outperform expectations. In the final week of October, 37 properties priced at $4M+ entered into contract - marking the third consecutive week of 30+ luxury contracts signed.