Manhattan $5M+ Luxury Sales: December 2025
Manhattan’s luxury market slows.
Inventory, average marketing times, and average price per square foot all declined versus 2024.
December 2025 saw 65 contracts over $5M, down 17% year-over-year.
Five of the past six months have had a drop in contract activity above $5M. However, activity was just 2% below the 10-year December average.
Active listings fell 7% year-over-year.
$5M+ active listings dropped to 812 — the lowest December total since 2013.
Days on market declined 14% year-over-year.
Resale condos and resale co-ops led the overall drop this month with each product type displaying double-digit year-over-year declines.
Average asking price per square foot fell 12% annually to $3,059.
However, the figure was flat compared to the asking price per square foot average for 2025.
