Inhabit by Corcoran

Manhattan contracts showed a modest uptick due to improved co-op sales.

Meanwhile, average price per square foot fell despite tighter negotiability.

In July 2025, Manhattan saw 908 signed contracts, a 1% rise year-over-year and 3% above the 10-year July average.

• While the annual gain was modest, this was the strongest July since 2021.
• The 11% monthly decline from June aligned with seasonal patterns typically seen from June to July.
• Buyers remained active at a pace similar to last year, with average days on market rising just 1% year-over-year (to 122 days) and 2% below the 10-year July average.

Compared to July 2024, condo contracts declined 5% while co-op sales rose 5%.

• Demand varied by price point. The under $1M and $2M–$3M segments posted the only annual gains, driven by strong resale activity.
• Submarket performance was also mixed. The Upper East Side, Downtown, and Financial District/Battery Park City saw annual increases, while Upper Manhattan, the Upper West Side, and Midtown experienced declines.
• Days on market rose 1% for condos but remained flat for co-ops year-over-year.

Manhattan had just over 6,400 active listings in July — level year-over-year, but still 5% below the 10-year July average.

• Inventory has held steady or declined annually for 11 consecutive months.
• Average price per square foot fell 9% year-over-year to $1,729, driven by a nearly 5% annual increase in contracts asking under $1,500 per square foot.
• Notably, Eighty Clarkson, which launched sales in March 2025 with average pricing above $5,000 per square foot, is excluded from this report as it is not publicly reporting contracts.

Negotiability tightened slightly: Discounts off last ask, based on Corcoran contracts reported in July, averaged -3.4%, up slightly versus both last year and June.

• In July, condos averaged -3.8% and co-ops -2.6% off. Roughly 75% of contracts were signed below their last asking price, consistent with July last year.