Brooklyn vs. Manhattan: June 2025 Market Update
As the New York City real estate market hits peak summer, June 2025 data offers a revealing look at buyer and seller behavior across Brooklyn and Manhattan. While both boroughs are showing signs of seasonal adjustment, the nuances between them highlight how location and product type are shaping pricing and demand.
Brooklyn: A Slight Summer Slowdown, but Houses Hold Strong
Brooklyn saw a mild cooling in June, with contracts signed down nearly 15% month-over-month and 6.1% below last year’s levels. However, this pullback seems more like a seasonal pause than a market correction.
Key Takeaways:
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Median Sale Price: $1.07M (↓ 4.5% MoM, ↓ 0.9% YoY)
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Average Days on Market: 135 days (↑ slightly from May, ↓ YoY)
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Inventory: 3,417 units (steady with a slight 0.5% increase from May)
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Discounts: Narrowing to 3% on average, suggesting less negotiation room.
By property type:
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Condos saw a noticeable drop in contracts signed (↓ 20.3% MoM), though prices per square foot were up 4.2% YoY, indicating demand for well-priced new development.
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Co-ops experienced a surprising 17.7% rise in average sale price but a sharp 42% drop in signed contracts, pointing to high pricing sensitivity.
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Single-family houses remained the standout, with contracts up 5.2% MoM and only a modest price dip. These homes are still selling relatively quickly and with less discounting, even amid broader cooling.
Manhattan: Luxury Softens, But Core Demand Remains
In Manhattan, luxury pricing showed signs of recalibration. The average sale price fell 6.9% month-over-month, driven largely by softness in the high-end condo and townhouse markets. But demand remains relatively healthy, especially for properties priced under $2M.
Key Takeaways:
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Median Sale Price: $1.22M (↓ 7.4% MoM, ↓ 2.2% YoY)
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Average Price Per Square Foot: $1,569 (↑ 7.4% YoY)
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Contracts Signed: 855 (↓ 8.6% MoM, ↓ 7.8% YoY)
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Average Days on Market: Down to 185 days, suggesting increased deal velocity.
By property type:
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Condos saw a slight pricing dip (↓ 3.7% MoM) but remain 15.2% higher YoY, showing strong appreciation over time.
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Co-ops were mixed, with prices softening and contracts dropping by 16%, though price per square foot was still up 6.1% YoY.
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Townhouses had the sharpest month-over-month correction, with the average price falling 31.9% from May — a reminder of just how volatile the ultra-luxury segment can be.
Final Thoughts
June 2025 shows us a tale of two boroughs reacting differently to market pressures. In Brooklyn, affordability and demand for space are keeping the market active—especially for houses. In Manhattan, recalibration at the top end is creating opportunities for buyers who’ve been sitting on the sidelines.
Whether you're thinking about buying, selling, or simply watching the market, staying informed on these month-to-month shifts can help you time your move strategically.