Manhattan contract activity increases versus last year and average days on market declines.

Average price per square foot rises despite tighter negotiability.

In June 2025, Manhattan saw 1,017 signed contracts — up 3% year-over-year and 1% above the 10-year June average. This was the 11th time in 12 months that contract activity increased annually.

• Buyers also signed contracts quicker this month, with average days on market falling 4% year-over-year to 111 days, 13% below the 10-year June average.

Compared to June 2024, condo contracts declined 4% while co-op sales rose 8%.

• Sales were level under $2M versus last year but increased across the board over $2M, including a 14% annual increase of over $5M, thanks to strong resale activity.
• Submarket performance was mixed this month: the Upper West Side, Upper East Side, and Downtown posted annual gains, while sales declined in Upper Manhattan, Midtown, the Financial District, and Battery Park City.
• Days on market rose 2% for condos but fell 10% for co-ops.

In June 2025, Manhattan had 7,362 active listings—down 2% year-over-year but still 4% above the 10-year June average. Listed inventory has declined annually for 10 consecutive months.

• Compared to a year ago, condo inventory was level, while co-op listings fell 5%.
• Average price per square foot rose 12% year-over-year to $1,916 due to a nearly 50% jump in the share of contracts asking over $3,000 per square foot. (Note that Eighty Clarkson, which began sales in March 2025 with average pricing over $5,000 per square foot, is excluded because it is not publicly reporting contracts.)

Discounts off last ask, based on Corcoran contracts reported in June, averaged -3.9%, tightening slightly versus last year.

• In June, discounts versus last ask averaged -3.8% for condos and -4.1% for co-ops.
• About 75% of contracts signed below their last asking prices compared to 70% last month.