While September typically experiences slower buyer activity, this year’s results surpassed expectations with 339 new contracts signed, slightly below the 2024 monthly average. Meanwhile, new listings surged to 919, pushing overall inventory higher and tilting market conditions in favor of buyers.
The Upper East Side continues to lead in demand, while Midtown and Downtown hold the largest share of available inventory. Prices have stabilized following earlier declines in 2024, now holding just above 2017 levels.
In the luxury segment—defined as properties priced above $5 million—momentum remains strong. The market recorded 49 new contracts, maintaining its lead over the yearly average. With limited supply in prime areas such as Downtownand the Upper West Side, the luxury sector continues to favor sellers, with inventory holding around 11 months.
Overall, Manhattan’s condominium market is showing mixed performance: broad sales remain soft, but luxury demand and new listings are driving activity. Prices are stable to rising, suggesting cautious optimism heading into the final quarter of 2025.
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