Manhattan Real Estate Activity | October 2025

Queensboro Bridge over the East River beside a waterfront promenade and apartment buildings.

Manhattan real estate activity infographic for October 2025 with contracts, median price per square foot, inventory, and days on market.

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.