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September Real Estate Report: Manhattan & Brooklyn

October 9, 2025

Brooklyn vs. Manhattan: September 2025 Market Update

As fall began, both boroughs saw price moderation following a summer surge, though fundamentals remained strong. Brooklyn’s September data reflected a healthy adjustment after record August gains, while Manhattan’s luxury-driven highs cooled—particularly in condos and townhouses—as inventory ticked upward and contract activity slowed.

 

Brooklyn: A Needed Breather After Summer Highs

After one of its best pricing months of the year in August, Brooklyn eased slightly in September—but still posted double-digit year-over-year growth across nearly every category. Inventory grew modestly, and days on market shortened, signaling healthy absorption despite a small dip in contracts.

Key Takeaways:

  • Median Sale Price: $1.10M (↓ 12.0% MoM, ↑ 10.1% YoY)

  • Average Price Per Square Foot: $1,009 (↓ 5.3% MoM, ↑ 16.0% YoY)

  • Average Days on Market: 116 days (↓ 5.7% MoM, ↓ 4.9% YoY)

  • Inventory: 3,407 units (↑ 4.4% MoM, ↓ 0.8% YoY)

  • Contracts Signed: 459 (↓ 1.9% MoM, ↑ 8.0% YoY)

    Brooklyn 2025 September Report

By property type:

  • Condos: Median price eased to $1.25M (↓ 3.1% MoM, ↑ 18.2% YoY), but year-over-year appreciation remained strong. Time on market rose to 128 days, hinting at post-summer buyer patience after August’s surge.

  • Co-ops: Median slipped 9.1% MoM to $575K but still ↑ 22.4% YoY. Inventory increased 5.5%, with days on market down 14%.

  • Houses: Median fell 14.9% MoM to $1.25M, flat YoY. Contracts rose 2.8% and inventory climbed 2.2%, signaling continued interest even as buyers grow more price sensitive.

Summary:
Brooklyn’s September cooldown was expected after August’s sharp climb. Year-over-year gains across all property types reinforce steady demand—especially in condos—while modestly higher inventory gives buyers a bit more breathing room.

View Brooklyn’s Full September Market Report

 

Manhattan: Luxury Retreat and Seasonal Slowdown

Manhattan’s September numbers show a similar pattern: prices dipped month-over-month following summer highs, especially in condos and townhouses. Luxury buyers briefly stepped back, and contracts declined across the board, though year-over-year comparisons remained roughly stable.

Key Takeaways:

  • Median Sale Price: $1.13M (↓ 9.7% MoM, ↓ 12.8% YoY)

  • Average Price Per Square Foot: $1,516 (↓ 3.8% MoM, ↓ 1.9% YoY)

  • Average Days on Market: 201 days (↑ 10.4% MoM, ↓ 3.8% YoY)

  • Inventory: 6,651 units (↑ 7.3% MoM, flat YoY)

  • Contracts Signed: 647 (↓ 12.4% MoM, ↑ 1.7% YoY)

    Manhattan 2025 September Report

By property type:

  • Condos: Median price dropped to $1.52M (↓ 15.2% MoM, ↓ 11.2% YoY). Inventory rose 5.3%, and contracts slipped 4.8%. Days on market inched up to 189, indicating buyers taking their time.

  • Co-ops: Median held steady at $870K (↓ 0.6% MoM), but average prices jumped 15.3%, showing strength in larger units. Contracts down 19% MoM but ↑ 7.6% YoY.

  • Townhouses: Median fell to $6.1M (↓ 35.8% MoM), after a record-breaking August median of $9.5M. Contracts plunged 60% as buyers paused after a flurry of summer activity.

Summary:
Manhattan’s September pullback is seasonal and expected after an unusually active summer. Luxury inventory continues to expand, while price softening could create opportunity for buyers re-entering the fall market.

View Manhattan’s Full September Market Report

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