Manhattan luxury contracts rise and inventory declines

Days on market and average price per square foot fell versus 2024.

April 2025 saw 79 contracts over $5M, up 3% year-over-year.

• This was the 10th consecutive month with a year-over-year increase.

Active listings fell 10% year-over-year.

• Robust contract activity pushed active listings 5% below the April 10-year average.

Days on market dropped 5% year-over-year.

• Resale co-ops saw average days on market decline while resale condo and new development increased versus 2024.

Average asking price per square foot fell a slight 1% versus 2024 and 11% from last month to $2,792.

• This month, there were no contracts asking over $5,000 per square foot, whereas last month there were nine such contracts, mostly located on Billionaire’s Row.