Manhattan’s real estate market picked up in April, with significantly more sales contracts signed than a year ago. Even as activity rose, properties took a bit longer to sell and prices saw modest gains overall.
Condo Market
Manhattan condos saw 441 contracts signed in April 2025 (up from 376 in April 2024), indicating robust demand. However, the median days on market stretched to 71 days (from 63 days last year), so units aren’t flying off the shelf as quickly. On the pricing front, the median sale price for condos came in around $1.96M (up from $1.82M a year ago), and the median price per square foot nudged up to roughly $1,600. In short, condo sellers can take heart that values are rising, but should expect a bit more wait time – and savvy buyers may find slightly more negotiating room than last spring.
Co-op Market
The co-op sector had the highest deal volume this April with 560 contracts signed (up from 489 last year). These deals closed with a median of 60 days on market, a slight slowdown compared to 53 days in 2024. Co-op prices remained relatively flat: the median sale price was about $775K (just a touch above $769K last year), while price per square foot actually eased to ~$930 (down from roughly $1,000). This suggests co-op buyers are getting a bit more space for their dollar than a year ago, and co-op sellers should price carefully in a market that’s active but not seeing big price jumps.
Townhouse Market
Townhouses and single-family homes remain a small slice of Manhattan’s market, with only 12 contracts in April 2025 (versus 9 last year). Even with low volume, there’s a notable improvement: those homes that did sell moved faster, with median days on market down to 166 days from an unusually high 224 days in 2024. The median sale price for a Manhattan townhouse was about $4.75M - a sharp drop from last April’s $10.1M. (Keep in mind, last year’s median was skewed by a few ultra-luxury sales; this year’s figure is more in line with typical townhouse prices.) Similarly, the median price per square foot for townhouses came in around $1,043, down from last year’s lofty levels (~$1,915). For townhouse sellers, the good news is that well-priced homes are finding buyers more quickly. Buyers in this segment are seeing less frothy pricing than a year ago, as the super-high-end outliers have cooled off.
Overall, what’s the takeaway? Buyers are active - we saw about 16% more Manhattan deals than last spring - but they’re also taking their time, resulting in slightly longer listing periods. Sellers should note that pricing it right is crucial: demand is there, but today’s buyers are price-sensitive despite a generally upward trend in values. Let’s decode your next move.
Brooklyn’s market held steady in April, with nearly the same number of deals as last year. Homes took a little longer to sell, but values continued to climb, signaling that Brooklyn’s appeal remains strong.
Condo Market
Brooklyn condos had 172 contracts signed in April 2025 (just slightly fewer than the 178 a year ago). The median days on market for condos was 49 days, up from 44 days last April - meaning buyers aren’t rushing quite as quickly, but properties are still moving at a healthy clip. When it comes to prices, condo trends were a mixed bag: the median sale price jumped to about $1.123M (from $995K last year), indicating buyers paid more in total, but the price per square foot for those sales actually dipped to ~$1,092 (down from about $1,182). This suggests many buyers sought larger or more premium units - boosting overall price points while keeping the cost per square foot in check. Condo sellers can smile at the higher sale prices, but should remain mindful of competitive pricing since buyers are value-conscious.
Co-op Market
Brooklyn co-ops saw 125 contracts in April (up from 112 the prior year), showing solid demand. The median time on market stretched slightly to 42 days (versus 37 days last April), but a few extra days isn’t deterring deals. Co-op values are on a gentle rise: the median sale price was about $453K (up from $440K last year) and median price per square foot climbed to roughly $520 (from $462). Steady growth in this entry-to-mid level segment means buyers are paying a bit more, but still finding Brooklyn co-ops relatively affordable. Sellers in the co-op market can be encouraged by the price gains - though they may need just a touch more patience as homes take slightly longer to find the right buyer.
Single-Family Homes / Townhouses
Brooklyn’s single-family homes and townhouses had 23 contracts signed in April 2025 (down from 31 a year ago), indicating a softer activity level in this segment. Those that did sell took longer: 58 days on market median, up from 40 days last year, as higher-priced properties often require more time to match with the right buyer. In terms of sale prices, this April’s closings actually notched higher median prices at $920K versus $900K last year, with a notable rise in price per square foot to ~$634 (from $554). So while fewer townhouses changed hands, the ones that did sell went for slightly more money – buyers were willing to pay up for quality, and sellers achieved about 2% higher prices on average. If you’re a Brooklyn townhouse seller, note that your asset is appreciating, but expect that finding the buyer might take longer in the current market. Buyers in this category should take heart that even though volume is down, the value proposition of Brooklyn houses remains strong as evidenced by rising $/SF.
Bottom line: Brooklyn’s real estate market is balanced - we’re not seeing a big surge in sales, but pricing trends are healthy. Buyers have a bit more breathing room with longer listing times and can still find value, yet should be prepared for prices that are gradually climbing. Sellers can feel confident as property values appreciate, but shouldn’t be complacent: attractive pricing and good presentation are still crucial to avoid extra days on market. Let’s decode your next move.
