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

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

Manhattan

While not fantastic, the numbers for September in the borough overall looked good, especially since September tends to be one of the slowest months of the year for deal activity. 

Signed contracts were down on an annual basis but they were up compared to the prior year. 

And overall listing inventory saw a healthy jump compared to the prior month. This was good news for buyers and what we typically expect in line with seasonality. But it was still about 8% below what we typically see for this time of year. 

Price per square foot was down, but the decline is a bit deceptive here. The lower price was mostly due to fewer sales priced at more than $2500 per square foot. 

The negotiability factor also reflected the relative health of the market. It tightened to 2.6% below asking compared to 3.1% below asking the prior month. 

Brooklyn

In Brooklyn, things looked quite different from Manhattan. 

The market was really not on the side of buyers, and it was reflected in signed contracts. They were down both year over year and month over month. While we do expect September to be slow, this is even slower than normal. In fact, it’s the lowest level of signed contracts we’ve seen in about 8 years.

There was a solid uptick in inventory month over month, but inventory still struggled compared to last year. This gave sellers an advantage – as reflected in the double digit increases in average price per square foot. 

But these numbers don’t tell the full story. The reason for the big increase was due to more sales happening at higher price points, and a pretty big decline in sales at lower price points. For example, Park Slope and Gowanus saw sales increase more than 100% year over year while Kensington, Ditmas, Windsor Terrace and other nearby neighborhoods (which are much more affordable) saw sales decline by more than 40% compared to the prior year. 

The advantage for sellers was reflected in the negotiability factor, which stood at 1.5% above asking. This was higher than both last month and the prior year. 

What’s Next

I think Manhattan is poised for a solid performance during the month of October. Inventory levels are low, but not super low. And interest rates are at some of the lowest levels we’ve seen all year. So the combination of options and lower costs could get some folks off the sidelines. 

In Brooklyn, I think we’ll see more of the same unless lower interest rates can coax more sellers off the sidelines. Right now, the resale market is really struggling because lots of potential sellers have low mortgage rates and they don’t have much to choose from if they want to stay in Brooklyn. 

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