It’s time for the NYC monthly sales market update! Here’s a look at some key numbers for June 2025 in Manhattan and Brooklyn. 

To view the full NYC sales market monthly update for June 2025, click here. And to view stats for the previous month, click here. 

Key Points

Manhattan 

Signed contracts in Manhattan were down compared to the previous month, which was expected heading into summer. But they were actually up 3% compared to last June which was a bit of a surprise.

The overall average price per square foot jumped on an annual basis. But this was largely due to a higher number of luxury apartment sales. There was a 50% jump in the number of contracts signed asking more than $3000 per square foot. 

However, the market remained firmly more in favor of buyers. Listings stayed flat compared to the prior month. But they were 4% higher than the typical 10 year average for the month of June. And the negotiability factor stood at 3.9% below asking. 

Brooklyn 

Things were quite different across the East River for Brooklyn. Signed contracts were down double digits on both an annual and monthly basis. It was one of the lowest levels for June in 5 years. This was due to a large decline in sales in South Brooklyn.

The shrinking share of lower priced sales was also reflected in the average price per square foot for the borough. It was up both year over and year and month over month thanks to more sales in higher priced neighborhoods. 

Inventory remained muted for another month. And that led to sellers having a slight advantage with the negotiability factor sitting at 0.6% above asking. 

What’s Next

As predicted last month, the summer slowdown appears to be underway. But the slowdown is much more pronounced in Brooklyn than it is in Manhattan. There’s a chance these two markets may continue to diverge from one another in the coming months. 

Brooklyn is set to see an influx of rental inventory thanks to a slate of new developments coming online in Gowanus. While the prices of many of these developments are on the higher end, they may nonetheless act as a lid on prices in the immediate area. And if that happens, potential buyers may continue to rent (especially in the face of stubbornly high interest rates).  

By contrast, in Manhattan, rents continue to climb to record levels due to seriously constricted inventory. So interest rates may not prove as much of a deterrent for some prospective buyers if the rent versus buy equation works out for them. So even though sales may be lower than what we saw in the spring, it wouldn’t be surprising if we saw some year over year gains. 

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