In May, Manhattan leasing activity declined on an annual basis, while available inventory remained below typical seasonal levels. Meanwhile in Brooklyn, signed lease activity declined year-over-year, reaching the lowest May total in three years.

The market slowed versus last year amid shifting market dynamics. Inventory dips for first time in a year.

Manhattan contract activity declines and average days on market falls. Average price per square foot displays uptick despite more negotiability.

Manhattan luxury contracts dip as inventory declines. Days on market fell versus 2024 while average price per square foot remained level.

In April, the median Manhattan rent again reached an all-time high of $4,800 per month, while the amount of inventory dropped on an annual basis for the eighth consecutive month. Over in Brooklyn, the median rent also continued to rise.

Manhattan luxury contracts rise and inventory declines. Days on market and average price per square foot fell versus 2024.

For a third month this year, contract activity improved. Inventory also reached its highest point in nearly a year.

In April 2025, Manhattan sales rose 11% year-over-year and 5% versus last month to just under 1,150 contracts, 5% above the 10-year April average and the eleventh consecutive annual increase.

The East End real estate market held strong in the first quarter of 2025, showing impressive momentum. On the South Fork, sales surged 28% year over year, hitting the highest level of closings since Q3 2023. The North Fork saw