Manhattan renters faced a challenging market as we entered 2025. The Brooklyn rental market also kicked off the new year on a relatively subdued note.

In January 2025, Manhattan sales increased 2% year-over-year to a three-year January high of 804 contracts. This was the fifth consecutive month that sales rose year-over-year, but the least significant annual percentage gain since August 2024.

Inventory growth promotes strongest January in three years. Pricing holds steady amid limited negotiability.

Manhattan luxury sales continue to increase as inventory falls. Days on market fell year-over-year and average price per square foot declined versus 2024.

2024 ended with a show of strength for both the South Fork and North Fork markets. South Fork sales were up 25% annually, with Westhampton Beach achieving a standout 155% surge in closings. Meanwhile, the North Fork saw solid performance

Market activity in the Miami Beaches diverged across product types in 4Q 2024, with both sales and dollar volume of single-family homes rising versus a year ago, as condo closings fell.

With plenty of options for apartment-seekers, including a significant number of new developments in neighborhoods like Downtown Brooklyn, the borough of Brooklyn outperformed in December. While Manhattan will always have a unique appeal as the ‘heart’ of our city, it

The Brooklyn real estate market demonstrated its resilience in the Fourth Quarter of 2024. Despite a dip in closed sales, the 3% annual rise in contract signings highlights the market's strength and buyers' continued interest in this dynamic borough.