April 2025 NYC Real Estate Market Update: A Spring Snapshot
As we moved into the heart of spring, New York City’s real estate market showed a compelling blend of resilience and recalibration. Both Manhattan and Brooklyn posted strong pricing metrics in April 2025, but beneath the surface, buyer behavior continues to shift in notable ways.
Manhattan Market Highlights
The Manhattan market saw a continued climb in pricing across the board:
- Median Sale Price: $1,350,000 — a 12.6% increase year over year
- Average Sale Price: $2,530,749 — up 18.8% from April 2024
- Co-ops: Average sale prices jumped to $1.41M
- Condos: Median prices edged past $1.99M
That said, contract activity tapered off slightly, with signed contracts falling 7.2% compared to March and 6.6% from the previous year. Inventory also ticked up by 3.5%, suggesting more choices for buyers but also a more competitive environment for sellers. Average days on market rose to 224, and the average discount hovered at 8%—giving buyers some room for negotiation.
Brooklyn Market Highlights
Brooklyn mirrored Manhattan’s pricing strength, though it too saw a slowdown in deal flow:
- Average Sale Price: $1,370,189 — up 1.9% year over year
- Median Sale Price: $1,025,000
- Co-ops: Averaged $742K; condos averaged $1.3M
- Townhouses: Averaged $1.68M, up 11.5% from last year
Despite a 3.1% increase in inventory month-over-month, contract signings dropped by 16.2% year over year. Buyers are taking their time and becoming increasingly selective, especially as price per square foot declined across several property types.
What This Means for Buyers and Sellers
If you’re a buyer, more inventory and softening contract activity mean you may have additional leverage—especially when it comes to negotiating discounts and securing better terms.
If you’re a seller, pricing strategically is key. Properties that are well-priced and presented are still moving, particularly those with unique features or located in desirable neighborhoods.
Let’s Strategize
Whether you’re planning to buy, sell, or simply want to understand where the market is heading, the Randy Baruh Team is here to guide you through every step with insight and precision. Reach out today to start the conversation.
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