The Pulse - Manhattan Luxury Market 6/10/25

Luxury buyers shrugged off the post‑Memorial Day lull with 32 contracts at $4 M+—19 % higher than last week and 33 % above the historical “healthy” level. Over the past 30 days, 152 luxury deals closed, a 31 % YoY jump. The Upper East Side leads with 34 % market share, reinforcing its position as the top choice for pedigree‑seeking buyers.

Inventory is tightening quickly: only 43 new listings hit the market (‑31 % WoW), while 51 listings exited (+70 % WoW). Well‑presented properties now enjoy real scarcity leverage—especially in the $10 M+ tier.

Key takeaway: If you’re a seller, June is your window to stand out before summer’s slower cadence sets in. Buyers, focus on listings 90–100 days on market—today’s median discount is 7 %.

Weekly Market Snapshot (Week Ending 9 June 2025)MetricValueTrend

• Contracts Signed ($4 M+)32▲ 19 % WoW30‑Day
• Contracts Signed 152▲ 31 % YoYSales
• Sales Volume $243.1 M▼ 3 % WoW
• New Listings 43▼ 31 % WoW · ▼ 1 % YoY
• Off‑Market51▲ 70 % WoW · ▼ 3 % YoY

Market Indicators $4M & Over

• Market Pulse: 2.30 (seller‑leaning)
• Climate Index: 0.81 (cooler vs. ‘24 but heating up MoM)

Neighborhood Standouts – Upper East Side Dominates Luxury Demand

• Upper East Side11-34 % market share
• Downtown9-28 % market share
• Upper West Side 8-25 % market share
• Midtown 4-13 %- market share

Why now? Renovated pre‑war co‑ops and turnkey new‑dev condos east of Central Park are offering Upper East Side prestige without Downtown’s premium pricing.

Contract Mix – Where the Money Flowed

Property Type - Deals & Market Share

• Condos 21-66 %
• Co‑ops 8-25 %
• Townhouses 3-9 %
• New Development: 7 contracts (22 %) – Immediate‑occupancy, branded towers remain in vogue.
• Ultra‑Luxury ($10 M+): 6 contracts | Market Pulse 2.05 | Climate Index 1.36 (firm seller edge)

Top 2 Contracts – See All 32 Contracts

#1 • 520 Park Avenue #31 (Upper East Side) - $25.95M - recent condo development near Billionaires Row- reduced $1M - 42 days on market- 4 bedrooms- 5 baths- 63 days on market

#2- 85 Mercer Street - penthouse -Soho- co-op- $17.9M 63 days on the market- 4 bedrooms- 4.5 baths

Macro Market View – Rates, Jobs & Volatility

A softer‑than‑expected U.S. jobs report now gives Fed‑funds futures a 50 % probability of a 25 bp rate cut on 17 September. The 10‑year Treasury hovers near 4.4 %, keeping jumbo mortgage rates under 6.75 %. Ongoing trade‑war headlines add volatility.

Actionable Insights

Sellers – Leverage the next 3 weeks

• Scarcity premium: New listings are down 31% and there was a 70% increase in the number of off market listings last week. Lower inventory gives you an edge for the next 3 weeks- precision pricing is key.

Buyers – Leverage Aging Inventory

• Target 100‑day listings:Find out your level of negotiabilty for your neighborhood , property type and size -Data is available - Email me here..
• Focus on value pockets: co-ops,older condos, solid but not the hottest location.

Let’s Talk Strategy

Thank you for your loyal readership of the Pulse. Please share it with others who may find it of value. Email me with any of your real estate questions. If you are a seller whose property is lingering on the market or a buyer who needs advice on the market, please don't hestitate to reach out. It would be my pleasure to help you.