NYC Real Estate Market Report – March 2025
Brooklyn & Manhattan Edition
The New York City real estate market sprang into action this March, with strong movement in both Brooklyn and Manhattan across all property types. While prices continue to climb, buyers and sellers alike are showing renewed confidence. Here’s a side-by-side breakdown of how both boroughs performed.
NYC Market Snapshot
| Metric | Brooklyn | Manhattan |
|---|---|---|
| Avg Sale Price | $1,357,949 (⬆️ 6.1% MoM) | $2,573,350 (⬆️ 8.9% MoM) |
| Median Sale Price | $1,050,000 (⬆️ 5.1%) | $1,225,000 (⬆️ 2.1%) |
| Avg Price/SqFt | $941 (⬆️ 11.5%) | $1,579 (⬆️ 5.0%) |
| Days on Market | 146 | 220 |
| Inventory | 3,208 (⬆️ 6.2%) | 6,482 (⬆️ 10.4%) |
| Contracts Signed | 567 (⬆️ 18.1%) | 989 (⬆️ 24.9%) |
Condos
-
Brooklyn:
Median price remained steady at $1.11M. Price per square foot jumped 8.8% month-over-month to $1,220. Inventory rose over 10%, and contracts signed increased modestly. -
Manhattan:
Condo market surged with a median sale price of $1.97M (⬆️ 8.2% MoM). Contracts signed rose 31.8%—a signal of serious buyer activity. Price per square foot hit $1,833.
Takeaway: Manhattan condos are back in high demand, especially in Downtown and Upper East Side. Brooklyn condos continue to appeal to buyers seeking value with strong appreciation.
Co-ops
-
Brooklyn:
Median price jumped nearly 20% to $501,000. Contracts signed soared 48.4%. Inventory is lower than last year, which may contribute to buyer urgency. -
Manhattan:
Median co-op prices dipped slightly to $820,000, but average sale price rose significantly (⬆️ 11.3%). Days on market increased to 210, signaling a slower pace than condos.
Takeaway: Brooklyn’s co-op market saw a spike in interest, while Manhattan's co-ops, though pricier, are moving more slowly.
Houses
-
Brooklyn:
Single-family homes surged with a median price of $1.27M (⬆️ 15.1%). Inventory ticked up slightly, and contracts signed increased by 20.5%. -
Manhattan:
High-end houses saw mixed results. The median sale price rose to $9.1M (⬆️ 13.4%), but average price per square foot fell sharply (⬇️ 26.3%). Only 13 contracts were signed in March.
Takeaway: Brooklyn houses are attracting attention from buyers seeking space and value. Manhattan’s ultra-luxury market remains niche and highly sensitive to pricing.
Neighborhood Trends
-
Brooklyn:
Most active areas: Northwest Brooklyn (34%) and South Brooklyn (35%).
Property type breakdown: Condos (41%), Houses (43%), Co-ops (16%) -
Manhattan:
Most active areas: Downtown (28%), Upper East Side (20%), Upper West Side (19%)
Property type breakdown: Condos (53%), Co-ops (46%)
Final Thoughts
March 2025 showcased the strength and resilience of NYC’s real estate market. Manhattan saw a major comeback in both pricing and activity, while Brooklyn remained a steady force with strong demand in houses and co-ops.
Whether you're a buyer, seller, or investor, the spring market is heating up—and both boroughs offer compelling opportunities.