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: Jan 25 to 31, 2025
MANHATTAN | CONDOS & CO-OPS

• Contract Activity Rebounds Weekly but Falls Yearly – Last week, 183 contracts were signed, marking an 18% increase from the previous week but a 26% decline compared to last year.

• Annual Sales Decline Continues – For the second consecutive week, annual sales dropped more than 10%, with new development and resale condo sales each down over 40% year-over-year.

• Market Trends Vary by Region – While most submarkets saw declining contract activity, Upper Manhattan was the only area that remained stable.

• Luxury Market Sees a Shift – Sales above $5M remained steady, with a sharp 33% drop in contracts priced between $5M and $10M, but a staggering 250% increase in contracts for properties priced between $10M and $20M.

WEEKLY REPORT: Jan 25 to 31, 2025
BROOKLYN | CONDOS & CO-OPS

• Brooklyn Sees Strong Sales Growth – Last week, 67 contracts were signed, a 52% jump from the previous week and a 12% increase year-over-year.

• Mid-Range Market Surges – Contracts for properties priced between $1M and $2M soared 92% week-over-week and 28% annually.

• Luxury and Affordable Segments Show Gains – Two more contracts over $3M were signed compared to last year, both in Brooklyn Heights, while South Brooklyn saw nearly double the contracts, with a 36% increase in sales under $500K.

• Top Sale of the Week – The most expensive contract signed was a duplex in a Colonial Revival brownstone featuring a 250-square-foot terrace.