Manhattan $5M+ Luxury Sales: July 2025
Manhattan’s luxury market cooled as inventory hit a decade low.
Days on market fell versus 2024 while average price per square foot decreased annually.
July 2025 saw 52 contracts over $5M — a 7% drop year-over-year.
- Overall reported signed contracts, however, were 4% above the 10-year average for the month of July.
Active listings declined 16% year-over-year.
- Inventory fell to the lowest July level in 10 years.
Days on market decreased 15% year-over-year.
- New developments drove the overall year-over-year decline in average marketing times.
Average asking price per square foot was $2,992, down 8% annually.
- However, the six-month rolling average for $5M+ sales has risen annually for five consecutive months.
