Hey, there! We have some great news to share with you! 📢🔥 The MAY 2025 market report is now ready! It's critical to keep informed, so follow the link for the complete story. Stay current and in the know! 😉✨
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Also, we wanted to wish you a good week full of happiness and success. May every day offer you new opportunities and delight!
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Manhattan: Prices Hold as Discounts and Days on Market Rise
In May 2025, Manhattan’s residential market continued to show stability in pricing, with the average condo price holding firm at $3.0M and the median at $1.7M—reflecting steady demand, particularly in the luxury segment. Co-op pricing leveled off, with an average of $1.4M and a median of $902K, suggesting a plateau after earlier seasonal shifts.
Inventory rose 3.5% from April, indicating a modest increase in supply as the spring market tapered into early summer. Meanwhile, average days on market climbed 15.2% year-over-year, pointing to longer decision timelines and growing buyer caution. Coupled with a 7% average discount, negotiability is clearly gaining ground as listings linger.
May 2025 Manhattan Market Report by Compass. Average condo sales price: $3.0M; median condo: $1.7M. Average co-op sales price: $1.4M; median co-op: $902K. Inventory rose 3.5% from April 2025. Average discount: 7%. Interior of modern Manhattan apartment with skyline views
Brooklyn: Condo Prices Hold as Inventory Edges Up and Discounts Linger
In May 2025, Brooklyn’s condo market remained steady, with the average sales price at $1.4M and the median at $1.2M, showing consistent interest in mid-tier and luxury product. Co-ops showed softness, with the average price at $737K and the median at $542K, reflecting affordability-driven demand further inland.
Inventory grew 2.6% from April, a manageable rise as sellers continue to test the market ahead of summer. Average days on market shifted only slightly, up just 0.8% year-over-year, suggesting buyer activity has remained relatively balanced. With an average discount of 4%, negotiation remains part of the conversation—though less aggressively than across the river.
Brooklyn Market Report for May 2025 by Compass. Average condo sales price: $1.4M; median condo: $1.2M. Average co-op sales price: $737K; median co-op: $542K. Inventory rose 2.6% from April 2025. Average discount: 4%. Modern Brooklyn apartment interior with large windows and city views
Queens: Market Holds Steady as Prices Soften and Demand Eases
In May 2025, Queens’ residential market remained stable but slightly softer across key indicators. The average sale price dipped to $683K (down 1.3% from April) and the median sale price came in at $624K, nearly flat month-over-month but down 1.3% from last year, signaling mild price sensitivity in the market.
Despite this, price per square foot rose 3.7% year-over-year, suggesting strength in smaller or more efficient layouts. Days on market improved significantly year-over-year, dropping from 108 to 85, indicating deals are still moving at a healthy clip.
Inventory rose slightly (+0.7% from April), while contracts signed fell by 2.4% from April and nearly 10% year-over-year—pointing to a moderate cooldown in buyer activity. The average discount narrowed to 3%, down from 5% last year, showing that sellers are pricing closer to market from the outset.
Queens Market Report for May 2025 by Compass. Average condo sales price: $649K; median condo: $634K. Average co-op sales price: $347K; median co-op: $320K. Inventory rose 0.7% from April 2025. Average discount: 3%. Modern Queens apartment interior with open kitchen and stylish living area.
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Strategic Insights for Buyers and Sellers
May 2025 market activity across Manhattan, Brooklyn, and Queens highlights a city in flux—offering distinct opportunities depending on your goals and timeline. Manhattan remains the benchmark for luxury, with a $3.0M average condo price and 7% average discount, making it attractive for discerning buyers looking to negotiate on high-end properties. Brooklyn continues to serve the mid-market segment, posting a $1.2M median condo price and 4% discount, appealing to move-up buyers and long-term investors. Queens holds steady as the most accessible market, with a $649K median condo price and tight inventory, signaling strong value for first-time buyers and price-sensitive shoppers.
With inventory increasing in Manhattan and Brooklyn and days on market rising most notably in Manhattan, conditions are tilting toward buyers—especially those prepared to act strategically.
Whether you're looking to time a sale or make a confident purchase, our team at Compass is ready to help you navigate the moment with data-driven guidance and hyperlocal expertise.
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Explore the latest NYC real estate trends across Manhattan, Brooklyn, and Queens in May 2025. Get insights into pricing, inventory, days on market, and discounts—designed to help buyers, sellers, and investors make smarter real estate decisions. Powered by Compass.