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: May 17 to 23, 2025
MANHATTAN | CONDOS & CO-OPS

• Contract Activity Shows Strong Growth: Manhattan recorded 271 contracts signed last week, representing a 12% week-over-week increase and 1% year-over-year growth, indicating sustained market momentum despite seasonal variations.

• Resale Market Dominates with Positive Trajectory: Resale condos captured the largest market share with 92 contracts (31% weekly increase), while resale co-ops showed modest 4% growth, demonstrating robust secondary market activity that often signals market maturity.

• Luxury Segment ($5M+) Experiences Significant Surge: High-end transactions jumped 56% week-over-week with 28 contracts, suggesting strong confidence among ultra-high-net-worth buyers and potential wealth concentration effects in premium Manhattan real estate.

• Geographic Concentration in Prime Markets: Downtown led activity with 87 contracts, followed by Upper East Side (64) and Upper West Side (53), highlighting continued preference for established, well-connected neighborhoods among sophisticated buyers.

• New Development Sector Shows Vulnerability: New development contracts declined 24% year-over-year to just 25 units, indicating potential oversupply concerns or buyer preference shifts toward established inventory in the current market cycle.

WEEKLY REPORT: May 17 to 23, 2025
BROOKLYN | CONDOS & CO-OPS

• Brooklyn Demonstrates Resilience with Double-Digit Growth: 95 contracts signed represent a 13% week-over-week increase, though down 19% year-over-year, suggesting Brooklyn's market is stabilizing after previous volatility while maintaining short-term momentum.

• Co-op Market Shows Strength Amid Broader Challenges: Co-op sales surged 25% week-over-week despite a 37% annual decline, indicating potential value opportunities attracting buyers to this traditionally more affordable ownership structure.

• Entry-Level Market Maintains Activity: Properties under $500K recorded 18 contracts with 13% weekly growth, demonstrating Brooklyn's continued role as an accessible entry point for homeownership in the New York metropolitan area.

• Luxury Segment ($2M+) Exhibits Mixed Signals: Higher-end transactions showed 33% weekly growth but remain down significantly year-over-year, suggesting selective buyer behavior and potential pricing adjustments in Brooklyn's premium market segments.

• Neighborhood Diversification Strategy Evident: Strong performance across multiple submarkets including Carroll Gardens/Boerum Hill and Fort Greene indicates buyers are expanding beyond traditional hotspots, potentially driven by value-seeking behavior and lifestyle preferences post-pandemic.