Manhattan Real Estate Market | Week of November 24, 2025
The Manhattan real estate market showed remarkable resilience during Thanksgiving week. A period that traditionally sees slowing activity. Even with a shortened holiday schedule, buyers remained engaged across co-ops, condos, and townhouses. Furthermore, contract activity reflected a city that continues to outperform national market expectations. And, well-priced homes continue to trade. The week’s contract activity underscores a season that, despite macro noise and seasonal pauses, has shown a stronger rhythm and depth than many expected.
Steady Activity in a Holiday Week
Co-op buyers were out in force this week. Led by the Upper East Side with 23 signed contracts at a median of $1.195M. Midtown followed with 19 co-op deals, many of which were centered on efficient layouts. As well as financially and efficiently-run post-war buildings that continue to offer some of the best value in the city. Downtown co-op activity held firm as well, with buyers willing to move decisively for renovated homes in boutique buildings, especially those priced below $2M.
In the condo and condop segment, Midtown once again carried the week with 29 signed contracts. Newer construction, stronger amenity packages, and more flexible purchase rules continue to attract both domestic and global buyers. Downtown’s 15 condo contracts at a median of $1.8M illustrate how well-designed units in Tribeca, SoHo, and the Village remain insulated from seasonal softness. Even the Upper East Side saw five condo trades, signaling renewed purchaser confidence in established, well-amenitized East Side properties.
Townhouse activity, though selective, showed meaningful signs of life. The lone Downtown townhouse sale closed at nearly $20M, demonstrating ongoing demand for historic properties that have been restored, expanded, or architecturally reimagined.
What the Price Tiers Reveal
This week’s activity continued the pattern we have seen throughout the fall: the mid-market remains the engine of Manhattan. Homes between $1M and $3M led with 55 contracts signed—buyers who are clearly prioritizing stability, long-term value, and life-driven moves over attempts to time interest rates.
At the lower tiers, the $0–$1M segment posted 46 contracts, reflecting robust demand from first-time buyers and pied-à-terre purchasers. Meanwhile, eight agreements were signed between $5M and $10M, and one in the $20M+ category—quiet numbers on the surface, but appropriate for a holiday-shortened week and still consistent with Manhattan’s long-term pattern of high-net-worth buyers stepping in when unique properties surface.
Condo resale pricing remained disciplined and broadly stable, with mid-market PPSF hovering around $1,600–$1,700/SF and luxury hovering between $3,795/SF and $6,346/SF. The spreads highlight a predictable trend: quality and scarcity continue to command premiums, even in November.
Luxury Insight: Thanksgiving Week Outperforms the 10-Year Average
The Olshan Report recorded 19 contracts at $4M and above—a strong showing for Thanksgiving week and above the 10-year seasonal average of 17. Condos narrowly outsold co-ops 8 to 7, with four townhouses adding depth to the luxury mix.
This week’s top contract was a sponsor sale: Residence 61A at 53 West 53rd Street, asking $23.429M, a reflection of ongoing appetite for high-design, high-elevation new development close to the cultural heart of Midtown. The second-highest contract was 152 West 13th Street, a restored Greek Revival townhouse asking just under $20M—proof that for architectural purists and buyers seeking character, the West Village remains one of the city’s most coveted markets.
Weekly luxury stats added additional clarity:
-
Total weekly asking volume: $189,336,000
-
Average asking price: $9.965M
-
Median asking price: $7.995M
-
Average discount from original ask: 16%
-
Average days on market: 784
These numbers show a luxury market that is active, negotiable, and still rewarding buyers who move strategically and sellers who position their homes correctly.
What This Means for Buyers
Thanksgiving week reinforced a truth that has defined Manhattan throughout 2025: buyers remain highly motivated when the fundamentals align—good light, intelligent floor plans, strong building financials, and realistic pricing. Even as interest rates fluctuate, the stability of the market and the long-term value of ownership continue to stand out, especially in comparison to Manhattan’s rapidly rising rental prices.
Well-qualified buyers currently have:
-
Negotiating leverage on homes with longer days on market
-
Access to motivated sellers ahead of year-end
-
Less competition than they will face in February and March
The holiday season favors buyers who are prepared and decisive. The best opportunities often surface right now.
What This Means for Sellers
For sellers, the message is equally clear: correctly priced and well-prepared homes are still selling—and selling quickly. The depth in the $1M to $3M range, steady co-op demand, and strong performance of Midtown condos demonstrate that buyers remain engaged, even during the softest weeks of the year.
Listing now or preparing for early January can give sellers a meaningful advantage. Inventory will remain thin until mid-February, and serious buyers continue to tour and transact throughout the holiday season. Sellers who bring their listings to market with:
-
Accurate pricing
-
Strong staging
-
Precise positioning in the competitive set is achieving excellent outcomes—even as the broader market moves through its seasonal slowdown.
