It’s time for the NYC monthly sales market update! Here’s a look at some key numbers for February 2025 in Manhattan and Brooklyn.

To view the full NYC sales market monthly update for February 2025, click here. And to view stats for the previous month, click here. 

Key Points

Manhattan 

The Manhattan market showed some healthy activity in the month of February. Signed contracts were up by 19% compared to the previous month and up 3% compared to February 2024. In fact, this was a 3 year high for signed deals in the month of February. 

Prices showed some modest increases – up 2% on both a monthly and annual basis. And while inventory had a year over year decline, listings were up by 5% compared to January. 

But despite robust sales activity, things didn’t necessarily cut fully in favor of sellers. The negotiability factor stood at 3% below asking. This was an improvement compared to the prior month. But it was a clear sign that buyers still held some meaningful leverage. 

Brooklyn 

Market activity in Brooklyn was more muted compared to its East River counterpart. After getting off to an impressive start in January, signed contracts were up just 1% both month over month and year over year. 

The average price per square foot rose 11% compared to the prior month, but it was up only 2% compared to February 2024. And inventory remained tight but increased by 10% compared to last year – a welcome relief for buyers. 

But sellers still held an edge in the market. The negotiability factor stood at 0.7% above asking. 

What’s Next

Since hitting around 7% in mid January, mortgage rates have steadily trended downward. But the on and off nature of the current administration’s tariff policies has many on edge. And it’s introduced a lot of uncertainty for what potential buyers and sellers are thinking. 

The rate at which new listings hit the market will play a big role in how things shape up for the spring in Manhattan and Brooklyn. Inventory is increasing in line with seasonal expectations, but it’s unclear if levels will be muted like 2024, or if they’ll improve. If the latter, then we may see more buyers decide to test the waters, given the current stickiness of unusually high rents. 

If you’re thinking of trying to own your slice of the Big Apple, make sure you’re prepared! Get pre-approved! Understand your finances! And get my FREE First Time Buyer’s Guide!