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.

The New York City real estate market kicked off 2025 with remarkable resilience. Despite macroeconomic uncertainty and low housing inventory, both Manhattan luxury real estate and Brooklyn luxury homes saw strong activity, signaling that demand remains robust in the nation’s most competitive housing market.

Manhattan’s residential real estate market showed resilience, even as the anticipation of lower mortgage rates temporarily held back some buyers for most of the quarter. When mortgage rates finally began to fall, reaching their lowest level in 1.5 years, buyers responded positively but overall contracts signed remained close to levels seen this time last year.