Manhattan $5M+ Luxury Sales: August 2025
Manhattan luxury contracts dip as supply shrinks to a decade low.
Days on market rose versus 2024 and average price per square foot increased annually.
August 2025 saw 46 contracts over $5M, down 15% year-over-year.
- This was the second consecutive month with an annual decline. Versus the 10-year average for the month of August, reported signed contracts dropped 4%.
Active listings declined 22% year-over-year.
- Active $5M+ listings fell to their lowest level of any month in 10 years.
Days on market rose 4% year-over-year.
- New developments drove the overall year-over-year increase in average marketing times.
Average asking price per square foot was $3,407, up 8% annually.
- Additionally, the six-month rolling average for closings has risen year-over-year for six consecutive months.
