NYC Market Update: February 2025
Manhattan: A more cautious market—contract signings dipped 5% YoY, with days on market increasing across all property types. Prices remained stable:
- Condos: Contracts down 3%, average price $2.1M (up from $2M)
- Co-ops: Contracts down 6%, average price $1.25M (steady)
- Single-Family: Contracts down 7%, average price $3.5M (up from $3.3M)
Brooklyn: A different story—contract activity surged, properties moved faster, and prices climbed:
- Condos: Contracts up 20%, average price $1.5M, selling 15% faster
- Co-ops: Contracts up 5%, average price $850K (steady)
- Single-Family: Contracts up 25%, average price $2M, days on market down 12%
Takeaway: Manhattan buyers are taking their time, while Brooklyn demand is heating up. Thinking of making a move? Let’s decode the best strategy for you. #DecodeNYC #NYCMarketUpdate
