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Q3-2025 Manhattan Market Real Estate Activity

Q3-2025 Manhattan Market Real Estate Activity
 
The swing in contracts signed from Q2-2025 to Q3-2025 is significant, but it is also seasonal. The spring (Q2) market is typically New York's strongest and leads directly into the summer doldrums. September is typically one of the slowest months for contract activity as buyers tend to wait for new inventory to hit the market and then activity picks up in October. The market is steady, but it is still a tale of two cities where some inventory flies off the market and other inventory sits. Location, condition and price point are the main drivers.
  • All signs point to an improved market from 2024. YOY contract activity for both Q3 and September saw increases. In addition, closed sales experienced a healthy 13.4% increase from last year.
  • Total sales for Q3 were 4.3% higher than the decade average for Q3 sales.
  • Cash deals continue to dominate with nearly 70% of overall sales and over 90% of deals over $3M were cash.
  • Sales of new development making up 18.3% of all sales are at their highest level since the first half of 2019.
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