The Weekly Manhattan Real Estate
The Luxury Sector: In a Thanksgiving– shortened week, 19 contracts were signed at $4 million and above, which is 10 fewer than the previous week. Condos outsold co-ops 8–7, with four townhouses rounding out the mix. Despite the holiday slowdown, last week’s total still exceeded the 10-year Thanksgiving-week average of 17 contracts at $4M+. The top deal of the week was 61A at 53 W. 53rd St., asking $23,290,000, sold by the developer who first began marketing the building in 2015. The second highest contract was a townhouse at 152 W. 13th St., asking $19,995,000, which came on the market at the end of September.
Overall listing supply: There are currently 6,303 listings on the market, which is 8.1% less than last month, 0.1% less than last year, and exactly 160 fewer units than last week. Nothing surprising here–overall supply continues its expected seasonal decline as we close in on the end of 2025. Looking at the weekly numbers, only 86 new units came on the market during the Thanksgiving–shortened week, a 62.8% drop from the week prior. Expect a rebound this week simply because last week was a holiday, but the broader trend remains firmly downward. Inventory should continue to shrink, with the seasonal low for winter 2025/2026, likely landing in the 5,500–5,750 range before listings begin to build again heading into the spring market.
The Liquidity Pace (The 30-Day Pace of Buyer Demand): Last week, the 30-day pace of buyer demand clocked in at 1,053 units going into contract, which is quite strong–38% higher than last month and 5.2% higher than this time last year. Buyers are still putting property into contract deep into the 2025 fall season. Looking at the weekly numbers, 131 contracts were signed, which is 33.8% lower than the previous week, but still solid given the week shortened Thanksgiving-week. It’s also worth remembering that the five-year historical norm for November is around 850 contracts signed – and this November has easily surpassed that benchmark.
