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

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

Key Points

Manhattan

The Manhattan market once again was a bit lukewarm. Contracts signed were down slightly both year over year and month over month. It was one of the lowest levels of contract signings for August that we’ve seen since 2020. 

Inventory also ticked downward on an annual and monthly basis. Inventory in general has remained tepid compared to the prior year, with levels either staying the same or declining on a month over month basis for the last 12 months. 

And sales prices also reflected a bit of market flatness, with the average price per square foot unchanged compared to August 2024. But there was some good news for buyers. The negotiability factor ticked upwards to 3.1% below asking. 

Brooklyn

The Brooklyn market remained in the doldrums. Signed contracts were flat compared to the prior month and down by 12% compared to August 2024. 

All other market indicators were down as well. Active listings were down 11% both year over year and month over month. And the average price per square foot likewise slid slightly on an annual and monthly basis. The decline in price was likely due to fewer condos being sold. 

But the malaise in the market did translate to some modestly good news for buyers. For the first time in a while, the negotiability factor was slightly below asking at 0.4%.

What’s Next

A recent steep decline in interest rates could spur activity in the second half of September. And the Federal Reserve has indicated that more interest rate cuts for its benchmark rate may be on the way. That could over time cause interest rates to either stay at their lower rate or fall further.  Improved inventory might also motivate more buyers to get into the market since September is one of the most active periods for new listings, second only to the start of the spring sales season. 

But it usually takes buyers some time to assess the inventory before they’re ready to do deals. So we’re likely to continue to see declines on an annual basis in both Manhattan and Brooklyn. This wouldn’t be too surprising since September is also often the slowest month of the year for contract signings. 

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