Luxury Market Update

Market Updates
Written By Danielle Sevier

In the third quarter of 2025, Manhattan’s luxury real estate market continued to outperform the broader residential sector, reflecting both resilience and renewed confidence among high-net-worth buyers. Sales priced at or above $5 million surged nearly 15% year-over-year, underscoring sustained demand for premier properties even amidst constrained inventory.

Condominiums priced above $3 million accounted for an impressive 25% of all transactions, marking a new record high. This reinforces a growing preference for luxury condos as versatile, high-performing assets—valued not only for their premier locations and amenities but also for their flexibility and long-term investment potential.

Activity remains robust week over week. As per Crain’s, the city's luxury residential market had a banner week following democratic socialist Zohran Mamdani's mayoral win, shattering any initial concerns that his mayoralty would send New York elites packing.

Buyers scooped up 41 high-priced condos, co-ops and townhouses in the five days after Mamdani's Nov. 4 victory, according to Olshan Realty, which tracks luxury contract activity. The tally continues a four-week hot streak that some feared would end with a Mamdani win.
It was also the first time since May that New Yorkers inked more than 40 contracts for apartments with price tags above $4 million, more than half of which were signed between Nov. 5, the morning after election day, and Nov. 9.

An increasing number of buyers—particularly those with an investor’s mindset—are reallocating capital into tangible, income-generating assets like prime real estate. The motivations are clear: diversification, wealth preservation, and the enduring stability of Manhattan property ownership. 

Even amid limited supply, the luxury segment remains a haven for those seeking both security and appreciation potential.

If you have questions about current market dynamics or are considering buying, selling, or expanding your portfolio, connect with a trusted real estate advisor today to explore how to position yourself for success in this evolving market.

Written by. Marianna Dimentman | (E) mariannad@compass.com , (M) 917.853.3262

Danielle Sevier

Danielle Sevier is a powerhouse in the real estate industry, known for her unwavering commitment to her clients and her exceptional track record of success. With decades of experience, Danielle's market knowledge, impeccable service, and integrity set her apart as a trusted advisor for both buyers and sellers. Joining Compass has only elevated Danielle's ability to deliver unparalleled service, offering her clients access to the incomparable resources of one of NYC's premier residential brokerage firms.

As a native New Yorker with a deep understanding of the city, Danielle brings a level of expertise that is unmatched. Her experience in selling luxury apartments and townhouses in every area of Manhattan positions her as a true authority in the market. Beyond her extensive experience, Danielle's unique approach to real estate is a defining factor in her success.

Her dedication to understanding her clients' needs and going above and beyond to ensure a seamless real estate experience sets her apart. Whether working with buyers or sellers, Danielle's tenacity, attention to detail, and exceptional negotiation skills consistently deliver outstanding results.


What truly sets Danielle apart is her unwavering commitment to her clients' best interests and her belief in always doing the right thing. Her promise of "Zen in the Art of Real Estate™" encapsulates her approach, showcasing her ability to be a fierce negotiator and a tough broker while maintaining the highest standards of integrity and professionalism.

With Danielle Sevier, clients can expect nothing less than exceptional service, expert guidance, and a commitment to achieving their real estate goals with the utmost care and dedication.

https://thesevierteam.com/
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