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

Activity in Manhattan's rental market slowed in March versus last year as the median rent of $4,706 remains near a record high. In contrast, leasing activity in Brooklyn jumped 17% year-over-year, reaching its highest March figure since 2021.

The Brooklyn real estate market showcased its strength in the First Quarter of 2025, with contract signings increasing by 7% year-over-year — a strong indicator of sustained demand. Sellers responded to this momentum by bringing more inventory to the market,