It’s time to take a look at the NYC real estate market update for Q4 2025. 

To view the full reports, visit the links below:

Corcoran NYC Real Estate Market Update Q4 2025 – Manhattan 

Corcoran NYC Real Estate Market Update Q4 2025 – Brooklyn 

To check out stats from the prior quarter, click here. 

The Breakdown

Manhattan

Manhattan closed out 2025 with a solid fourth quarter performance. 

The median sales price was up 7% to $1,180,000 primarily driven by sales over $3 million. 

Average price per square foot declined compared to the prior year, but that was due to the absence of ultra luxury sales. Meanwhile, contracts signed were up both year over year (5%) and quarter over quarter (10%). The quarterly increase in deal activity was especially indicative of the momentum present in the market. 

Brooklyn

Things in Brooklyn likewise ended on a positive note. 

The median price in the borough was up 5% compared to Q4 2024 to $800,000 thanks to a higher number of sales over $2 million. And thanks to these higher price sales, the average price per square foot hit one of its highest figures on record at $1,138.

Inventory remained a challenge for buyers (it was down 11% compared to the prior quarter). But buyers did see relief compared to the prior year (up 5%). But like Manhattan, contracts signed gave a strong signal that the market may be on the up swing. Deals were up 10% compared to the previous quarter and 1% compared to the prior year. 

The Takeaway

Manhattan and Brooklyn may each finally be poised to see one of their best years since 2022. But that remains a tentative prediction. A lot rides on national economic factors, especially those with international implications like tariffs. 

If interest rates remain low and inventory continues its typical winter steady uptick, then that may be enough to encourage more buyers to get off the sidelines. Rents that continue to escalate (especially in Manhattan) may also contribute to this trend. 

For my full set of predictions for what may be in store for 2026, check out my blog post.