Brooklyn vs. Manhattan: July 2025 Market Update
As summer moves into full swing, July 2025 data reveals a market still active but adjusting across both boroughs. Brooklyn saw modest price gains despite slower contract activity, while Manhattan’s luxury market showed mixed signals with condos holding steady and townhouses facing sharper slowdowns.
Brooklyn: Price Growth Amid Slower Contracts
Brooklyn posted a strong month for pricing, with both median and average sale prices up sharply from June, even as signed contracts cooled slightly. Demand for houses and select co-ops helped buoy pricing momentum.
Key Takeaways:
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Median Sale Price: $1.195M (↑ 11.7% MoM, ↑ 8.6% YoY)
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Average Price Per Square Foot: $1,044 (↑ 6.5% MoM, ↑ 13.7% YoY)
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Average Days on Market: 121 days (↓ 10.4% MoM, ↓ 9.0% YoY)
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Inventory: 3,378 units (↓ 1.1% MoM, ↑ 1.6% YoY)
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Contracts Signed: 468 (↓ 7.9% MoM, ↓ 9.7% YoY)
By property type:
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Condos held steady with a $1.1M median sale price and a 4.7% MoM rise in contracts, suggesting demand for well-priced units.
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Co-ops saw notable price growth (median ↑ 6.4% MoM) but contracts fell nearly 24%, reflecting continued price sensitivity.
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Houses had the largest price gains (median ↑ 12.8% MoM) but a 13.1% MoM decline in contracts signed, showing buyers are more selective at higher price points.
Manhattan: Stable Core, Uneven Luxury
Manhattan’s median sale price jumped nearly 10% from June, but average prices dipped slightly, pointing to a shift in the sales mix toward mid-market activity. Luxury townhouses faced steep contract declines, while condos recorded healthy YoY contract growth.
Key Takeaways:
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Median Sale Price: $1.343M (↑ 9.9% MoM, ↑ 5.3% YoY)
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Average Price Per Square Foot: $1,576 (↑ 0.4% MoM, ↑ 4.9% YoY)
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Average Days on Market: 194 days (↑ 4.9% MoM, ↑ 2.1% YoY)
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Inventory: 6,668 units (↓ 3.0% MoM, ↑ 2.8% YoY)
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Contracts Signed: 810 (↓ 5.3% MoM, ↑ 5.1% YoY)
By property type:
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Condos saw a 6.3% MoM rise in median price to $1.705M and a 9.3% MoM jump in contracts, suggesting a rebound in demand.
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Co-ops posted a 15.2% MoM rise in average price, but contracts dropped 17.5%, showing mixed market sentiment.
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Townhouses saw median prices surge 23.1% MoM, but contracts plunged 66.7%, highlighting volatility at the top end.
Final Thoughts
July 2025 underscored diverging buyer behavior across the boroughs. Brooklyn’s steady upward pricing—despite fewer contracts—signals a market where scarcity and quality are driving value. Manhattan remains bifurcated: core market activity is healthy, but the ultra-luxury tier is unpredictable. For both buyers and sellers, timing and pricing strategy remain critical in navigating the late-summer market.