How Much Did Manhattan Sell in Q1 2025?

The market report we shared with clients showed sales up 13.2% year over year and total volume of nearly $6 billion, up more than 50%. Corcoran counted nearly 2,700 closings, up 14%, and 2,934 signed contracts, up 3%.

What Was the Median Manhattan Apartment Price in Q1 2025?

The median Manhattan sale price was $1.175 million in the first quarter of 2025, up 12% year over year, according to both Corcoran and Brown Harris Stevens. Corcoran reported a record resale condo median of $1.595 million, up 18%, and the co-op median reached its highest level in ten years.

How Many Manhattan Buyers Paid Cash in Q1 2025?

Nearly 60% of first-quarter 2025 purchases were all-cash, including about 90% of sales above $3 million. That makes much of the Manhattan market far less sensitive to mortgage rates than the national housing market.

How Strong Was Manhattan Luxury Demand in Early 2025?

Brown Harris Stevens reported luxury sales up 21% above $5 million, 63% above $10 million, and 150% above $20 million.

Is Manhattan Inventory Shrinking?

Yes. Corcoran reported that new listings fell to an 11-year low and active listings stood at about 6,200 in mid-March, down 1%, and said shrinking inventory was pushing prices up, especially in luxury.

How Do the Brokerage Reports Compare for Q1 2025?

Each brokerage counts sales differently, so the figures in each firm's Q1 2025 report differ.

Why Should Q1 2025 Closed Sales Be Read With Caution?

Manhattan deals typically take 60 to 120 days to close, so a quarter's closed sales largely reflect contracts signed in the previous quarter. With economic uncertainty rising in early 2025, the first-quarter numbers deserve some caution.

What Did Q1 2025 Mean for Manhattan Buyers and Sellers?

The strength wasn't only luxury. Buyers came back to the city for work, families helped the next generation buy, and many people decided real estate was a steadier place for their money than the stock market.

What Results Has The Michael J. Franco Team Delivered?

Through Q1 2025, my team had 38 closed and pending sales and more than $90 million in sales volume. Who you work with matters.

Q1 2025

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June 23, 2025

How Did Manhattan Real Estate Perform in Q1 2025?

Tags: Manhattan real estate / Market Report / Michael J. Franco / Q1 2025 / The Franco Report

Manhattan sales rose 13.2% in Q1 2025 to nearly $6 billion, with sales above $5M up 49%. Michael J. Franco on cash buyers and the wealth transfer.

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Q1 2025

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How Did Manhattan Real Estate Perform in Q1 2025?