M
anhattan Real Estate Market Report – Q3 2025
Manhattan keeps proving its resilience amid economic and political turbulence. Sales hit a three‑year high, contract activity marked the sixth straight quarter of annual growth, and all key price indicators rose for the third consecutive quarter—an achievement not seen since 2022. Strong demand, especially in luxury and condominium segments, underpins the market’s solid fundamentals.
**Sales & Contracts**
- Closings rose 5 % YoY to 3,281, the highest Q3 total since 2022.
- Sales volume grew 10 % YoY to $6.56 B, driven by higher prices and sustained demand.
- Nearly 2,600 contracts were signed, sustaining the longest consecutive growth streak since before 2009.
- Days on market fell to 103, a one‑week YoY improvement and the second‑lowest level since 2018.
**Inventory**
- Active listings totaled 6,536, up 1 % YoY but down 11 % QoQ.
- New listings rose 5 % YoY for the second quarter in a row, while robust deal flow kept overall supply stable.
**Pricing**
- Median price reached a post‑pandemic record of $1.225 M, up 7 % YoY.
- Average price per square foot climbed 5 % YoY to $1,792, aligning with the 10‑year average.
- Appreciation was driven by a vibrant luxury market, increasing condo sales, and tight inventory in prime locations.
**Outlook**
Q3 confirms Manhattan’s ability to weather economic and political headwinds. While Q4 will introduce new challenges—including the mayoral election and broader political distractions—confidence remains high for the remainder of 2025 and into 2026.
– Pamela Liebman, Corcoran President & CEO
