MANHATTAN & BROOKLYN | WEEKLY SCOOP

The In-Between

Just like our favorite streaming series, every story has a beginning, an end, and the all-important in-between.

In-between each monthly scoop, NYC’s real estate market continues to churn with transactions. I’m here to keep you in the loop. Expect a concise, weekly snapshot of the market’s latest moves—straight to the point, just for you.

WEEKLY REPORT: Apr 19 to 25, 2025
MANHATTAN | CONDOS & CO-OPS

• Contract Volume Steady but Mixed: A total of 242 contracts were signed last week, showing a 2% increase from the previous week. However, the figure represents a slight 1% decline compared to the same period last year, pointing to a market that remains active but not accelerating.

• Market Stability Persists: Weekly contract activity has hovered at similar levels for three consecutive weeks, suggesting that buyer demand and inventory are currently in balance, typical of a mid-spring real estate cycle.

• New Development Sees Sharp Decline: Year-over-year, new development sales dropped 32%, marking their second-deepest annual decline in the past two years. The drop suggests a potential pause in buyer appetite for ground-up or pre-construction product.

• High-End Market Takes a Breather: For the first time in nine weeks, contracts over $5 million declined year-over-year, indicating a softening in ultra-luxury activity that had previously been fueling broader market strength.

WEEKLY REPORT: Apr 19 to 25, 2025
BROOKLYN | CONDOS & CO-OPS

• Strong Rebound in Activity: Despite the Easter holiday, 92 contracts were signed last week—a 39% increase from the previous week and up 18% year-over-year, signaling a strong spring market resurgence.

• Entry-Level Market Leads Growth: The under $500K segment saw the largest nominal gain, adding nine more deals compared to the prior week and underscoring renewed interest in more affordable options.

• South Brooklyn Surges: Contract activity in South Brooklyn nearly tripled, marking the highest weekly total the submarket has seen in nearly four months—a clear sign of rising demand in outer borough neighborhoods.

• Luxury Highlight of the Week: The most expensive deal was a three-bedroom at Olympia Dumbo, featuring a private terrace with panoramic views of Manhattan and the New York Harbor, emphasizing continued interest in well-located trophy properties.