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

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

Key Points

Manhattan 

Signed contracts were down compared to June, which is typical of seasonality. But they were up slightly compared to July 2024. This was actually the strongest July for sales since 2021. But sales for 2025 were still down quite a bit compared to that particular year. 

Average price per square foot ticked down on both an annual and monthly basis thanks to more sales below $1500 per square foot. 

And negotiability was still very much in favor of buyers, but slightly less so compared to June. It stood at 3.4% below asking. The tightening was likely due to fewer options on the market, since inventory was down by 13% compared to June. 

Brooklyn 

Sales activity continued to decline in Brooklyn. Signed contracts were down 18% compared to July 2024. While we do expect slower sales in the summer, this was a pretty marked year over year decline indicating a bit of weakness in the market. 

But that weakness wasn’t (yet) reflected in the price per square foot which only declined modestly compared to June and was pretty even with July 2024. Fewer homes sold under $1 million and in South Brooklyn along with lower inventory were the likely factors behind this. 

And despite sluggish sales, sellers gained an advantage over buyers. The negotiability factor stood at 1.5% above asking. 

What’s Next

We’ll likely see a continued slow down in sales like we usually do this time of year. August is one of the slowest months for signed contracts so the month over month declines could be quite steep. But again, that’s to be expected due to seasonality. 

The real question is how much of a decline are we going to see on a year over year basis in both boroughs. 

Manhattan is so far proving to be the more resilient of the two markets. So while sales are likely to decline month over month, there’s a chance they’ll remain within typical ranges for the month of August. 

Brooklyn is more likely to slide in terms of annual sales volume. Sellers are less likely to list in August. And some current sellers might even pull their listings off the market until after Labor Day. Fewer listings on the market tends to discourage buyers. And with relatively decent rental inventory in the borough (emphasis on “relatively”), more potential buyers are likely to keep renting. And a smaller buyer pool means fewer sales. So this all has the potential to create a negative feedback loop. 

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