Contract activity rises and average days on market declines.

Average price per square foot moderates despite tighter negotiability.

In April 2025, Manhattan sales rose 11% year-over-year and 5% versus last month to just under 1,150 contracts, 5% above the 10-year April average and the 11th consecutive annual increase.

• Contracts were signed quicker this month, with average days on market falling 13% versus March per seasonality and 1% year-over-year to 106 days, about 10% below the 10-year April average.

Compared to last year, condo contracts improved 8% and co-op sales rose 13%.

• All price ranges displayed annual gains in sales. Notably, contracts asking between $2M and $3M increased 24% year-over-year, and Midtown contract activity rose 30% year-over-year.
• The high-end of the market continued to exhibit solid demand: contracts asking above $5M rose 3% annually, the tenth consecutive annual gain. Versus last April, days on market rose by 5% for condos but dropped by 6% for co-ops.

Manhattan active inventory fell 1% annually to 7,211 listings this April, about 4% below the 10-year April average.

• Compared to a year ago, active condo listings increased 1%, while co-op listed inventory declined 2% year-over-year.
• Average price per square foot fell 5% year-over-year to $1,769. This month, the number of contracts asking over $4,000 per square fell 50% annually, driving the market-wide percentage decline. Note that Eighty Clarkson, which recently started sales with average pricing over $5,000 per square foot, is excluded because it is not publicly reporting contracts.

Discounts off last ask, based on Corcoran contracts signed in April, averaged -2.2%, tightening by under 1% compared to last year.

• Just under 60% of contracts signed below their last asking prices, which was essentially level with last month.