Brooklyn vs. Manhattan: August 2025 Market Update
As summer winds down, August data shows pricing strength across both boroughs, though buyer behavior is diverging. Brooklyn saw sharp condo gains despite softer contract activity, while Manhattan’s luxury market surged on townhouse sales, even as overall contracts slowed.
Brooklyn: Condo-Driven Price Strength
Brooklyn posted one of its strongest months of the year for condo pricing, with median values jumping double digits from July. Houses also showed significant year-over-year appreciation, though longer days on market reflect more deliberate buyers.
Key Takeaways:
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Median Sale Price: $1.25M (↑ 4.6% MoM, ↑ 14.2% YoY)
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Average Price Per Square Foot: $1,065 (↑ 2.0% MoM, ↑ 14.0% YoY)
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Average Days on Market: 123 days (↑ 1.7% MoM, ↑ 13.9% YoY)
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Inventory: 3,263 units (↓ 3.4% MoM, ↑ 3.4% YoY)
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Contracts Signed: 468 (flat MoM, ↓ 7.3% YoY)
By property type:
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Condos: Median price surged to $1.289M (↑ 17.2% MoM), with price per sq. ft. up 10.6%. Days on market fell to 107, signaling stronger absorption.
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Co-ops: Median price slipped to $632K (↓ 4.9% MoM), though still even with last year. Inventory down 32% YoY created tighter supply.
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Houses: Median price edged up to $1.469M (↑ 0.6% MoM, ↑ 22.4% YoY), but time on market lengthened to 139 days, suggesting buyers are weighing higher pricing carefully.
View Brooklyn's Full August Market Report Here
Manhattan: Luxury Surge, Softer Contracts
Manhattan saw townhouse sales power average prices higher, with condos also posting gains. However, overall contracts declined from July, reflecting some late-summer cooling in activity.
Key Takeaways:
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Median Sale Price: $1.25M (↓ 6.9% MoM, ↑ 13.6% YoY)
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Average Price Per Square Foot: $1,576 (flat MoM, ↑ 10.1% YoY)
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Average Days on Market: 182 days (↓ 6.2% MoM, ↓ 2.2% YoY)
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Inventory: 6,200 units (↓ 7.0% MoM, ↑ 1.0% YoY)
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Contracts Signed: 739 (↓ 8.8% MoM, ↑ 1.1% YoY)
By property type:
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Condos: Median price rose to $1.791M (↑ 5.0% MoM, ↑ 9.5% YoY), with contracts signed down nearly 20% MoM but steady YoY.
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Co-ops: Median price slipped to $875K (↓ 5.4% MoM), while contracts rose slightly (+5.1% MoM), suggesting more balance at this tier.
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Townhouses: Median price skyrocketed to $9.5M (↑ 18.8% MoM, ↑ 78.2% YoY), with contracts up 43% from July. Luxury buyers stepped back in after months of slower activity.
View Manhattan's Full Market Report Here
Final Thoughts
August underscored the boroughs’ diverging market dynamics. Brooklyn’s pricing gains, especially in condos, highlight strong underlying demand despite contract stagnation. Manhattan’s luxury segment, particularly townhouses, drove price growth even as broader contract activity cooled.
For buyers, Brooklyn still offers relative value but requires speed in the condo market. For sellers, Manhattan’s luxury tier is back in focus, while co-op pricing adjustments could help attract renewed interest.