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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 24 to 30, 2025
MANHATTAN | CONDOS & CO-OPS

• Sharp Weekly Decline: Manhattan contracts signed dropped 26% week-over-week to 201 units, marking the sharpest annual decline in ten weeks and signaling potential market cooling

• Luxury Market Struggles: Sales over $5M fell 17% year-over-year for the second consecutive week, indicating sustained weakness in the high-end segment that typically drives market sentiment

• New Development Concerns: New development sales have declined year-over-year every week for two straight months, suggesting potential oversupply or pricing resistance in the new construction sector

• Resale Condo Bright Spot: Resale condos were the only product type showing annual growth at +36%, demonstrating continued demand for existing inventory over new developments

• Price Point Divergence: Lower-priced segments ($1M-$3M) showed 21-23% declines, while mid-tier markets ($3M-$5M) declined 36%, indicating broad-based softening across price ranges

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WEEKLY REPORT: May 24 to 30, 2025
BROOKLYN | CONDOS & CO-OPS

• Memorial Day Impact: Brooklyn contracts fell 30% week-over-week to 71 units, though this decline was attributed to Memorial Day timing rather than fundamental market shifts

• Stable Year-Over-Year Performance: Despite weekly volatility, Brooklyn maintained relative stability with only a 1% year-over-year decline, outperforming Manhattan's 6% annual drop

• Entry-Level Resilience: Sales under $1M increased 14% annually, while luxury contracts over $1M decreased 23%, highlighting a flight to affordability in the current market environment

• Geographic Activity Shifts: Prospect Park area showed the largest nominal increase in activity, suggesting neighborhood-specific demand patterns are emerging

• Studio Surge: Studio contracts jumped 175% week-over-week, indicating strong demand for affordable entry-level housing options amid economic uncertainty