The Pulse - Manhattan Luxury Market 8/17/25

Market Snapshot

• Contracts Signed: 24 (↑ 9% vs prior week, ↓ 9% in last 30 days YoY)
• New Listings: 19 (↑ 16% vs prior week, ↓ 17% in last 30 days YoY)
• Off-Market Listings: 28 (↑ 56% vs prior week, ↓ 30% in last 30 days YoY)
• Sales Volume: $188,079,000 (↑ 12% vs prior week)
• New Development: 4 contracts, 17% market share
• Discounts: 13 contracts (54%) with a 6% median discount
• $10M+ Segment: 3 contracts, 13% market share

Neighborhood & Property Type Performance

• Condos: 16 contracts, 67% share
• Midtown: 11 contracts, 46% share (rare to see Midtown overtake
• Downtown, which typically leads the market)

Top 2 Contracts- See All 24 Contracts

• 7 bedrooms, 8.5 baths, 13,072 sq. ft. ( $3,429 psf )
• 147 days on market
• Known as the Jules Bache Mansion, this Gilded Age townhouse by C.P.H. Gilbert is an architectural jewel, underscoring the timeless allure of trophy properties on the Upper East Side.

• 4 bedrooms, 4.5 baths, 4,492 sq. ft. ( $5,008 psf )
• A Billionaire’s Row new development residence in the world’s thinnest supertall, marrying prestige with panoramic city views.

Insights & Advice

For Sellers

• 30% fewer listings have been withdrawn in the last 30 days vs. last year—sellers are better aligned with market conditions.
• With new listings down 17% YoY, competition remains muted.
• Signed contracts (24) remain in the healthy range (20 is the benchmark).
• As we approach Labor Day, activity may slow, but precise pricing and standout presentation remain your best advantage.

For Buyers

• Mortgage rates are at their lowest in 10 months—ideal for those fnancing.
• Focus on properties on market 60+ days, where sellers are most negotiable.
• New inventory won’t hit meaningfully until mid-September, creating a strategic window to act now.

Final Word

Carol