Manhattan Real Estate Market Snapshot | Week of September 1, 2025
The first week of September signaled a seasonal shift as Manhattan’s market transitioned from the quieter summer months into the busier fall season. Activity remained steady, with healthy contract volume across both entry-level and luxury price points.
Co-ops showed balanced demand, with Midtown leading with intense activity, while the Upper East and Upper West Sides each posted 15 signed contracts in the $1M–$1.3M range. Downtown followed closely, maintaining momentum with 18 contracts at a median price of $ 1.07 million.
Condos and condops continued to be the market’s driving force. Downtown stood out with 18 signed contracts at a median $2.16M, while the Upper East Side also performed well, closing deals at a $1.69M median—above asking prices. Midtown contributed volume with 24 contracts, highlighting buyer focus on quality inventory across price tiers.
The townhouse market was selective but notable. Two Upper East Side sales closed, including one at $11.4M, while Midtown recorded a transaction at $5.6M. These sales underline continued buyer interest in rare, well-situated townhouse opportunities.
At the luxury level ($4M+), Manhattan recorded 16 signed contracts for the week. Condos once again outpaced co-ops (11 to 3), with one condop and one townhouse rounding out the mix. Importantly, last week’s total matched the 10-year average of 16.5 contracts, and August overall ranked as the 4th strongest August since 2006, with 92 contracts signed at $4M+.
Market Insights
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For Buyers: Midtown and Downtown offer compelling opportunities in the $1M–$3M tier, with inventory available and pricing competitive. At the high end, select condos Downtown and townhouses on the Upper East Side are drawing buyer attention. Slower liquidity compared to last month means more negotiating power. Properties that sat through the summer may now be open to price adjustments or concessions.
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For Sellers: The fall season historically brings stronger activity. With buyers returning after summer, now is a strategic time to list well-prepared properties. Downtown condos and Upper East Side homes are outperforming, particularly when positioned above the competition. With the Climate Index rising and Market Pulse above seasonal averages, well-prepared and strategically priced listings stand out. Staging, pricing strategy, and timing are key.
- Big Picture: Manhattan’s market is entering fall with resilient demand, a balanced environment, and clear opportunities for both sides of the table.
Manhattan’s market remains resilient yet selective—with steady demand across entry-level, mid-tier, and luxury properties as the city heads into its most active selling season.
