Manhattan $5M+ Luxury Sales: September 2025
Manhattan luxury contracts fell amid inventory constraints.
Days on market and average price per square foot declined versus 2024.
September 2025 saw 57 contracts over $5M, down 12% year-over-year.
- This was the third consecutive month with an annual decline, but sales were still 16% above the 10-year average for September.
Active listings declined 17% year-over-year.
- Those over $5M+ fell to their second lowest level of any month in 10 years.
Days on market fell 27% year-over-year.
- The year-over-year decline was versus a high figure last year when several residences entered contract after spending years on the market.
Average asking price per square foot was $2,966, down 7% annually.
- The year-over-year decline was a result of a fewer new development contracts Uptown asking over $3,000 per square foot.
