The New York City Weekly Real Estate Update
Real Estate Guidance You Can Count On!
Below, you’ll find my weekly market update along with information about the market and myself. Please don’t hesitate to reach out with any questions — I’m always here to help.
The Weekly Manhattan Market Report - 11/03/2025
The Luxury Sector:
Thirty-seven contracts were signed last week in Manhattan at $4 million and above, six more than the previous week. Condos out co-ops, 21–9 with one condop and five townhouses in the mix. It was the third week in a row of 30+ contracts signed in the luxury market. The last three weeks I’ve racked up 98 contracts totaling $947,367,649 compared to 71 contracts in the same period last year totaling $581,494, 900–which prompts the question: why haven’t Mamdani winds have changed impacted the luxury real estate market as many been predicting? The No 1 contract was a townhouse at 4 E. 80th Street, asking $49.5 million, reduced from $59 million when it was released one year ago. The No. 2 contract was the 28th floor at 50 Central Park South, asking $29 million: it was listed in September.
Overall City/Market Supply:
There are currently 6,839 apartments on the Manhattan marketplace ready to sell. With that, it appears the overall supply has peaked for the season and is now beginning its slow descent into winter hibernation. Historically, the fall market peaks around 7,500 listings, so this year‘s fall season came in well below recent historical benchmarks. As John Walkup of UrbanDigs smartly summarized, the supply never quite hit the mark–and from here, there's likely to be a fast decline in new listings until the market re-awakens in the spring, roughly 4 months from now. For buyers still looking, this will not be the time for fresh inventory to enter the market, and with less inventory to choose from, this could be a time of strategic advantage for sellers who are currently listed. Looking at the weekly numbers, 286 apartments were listed last week–a 8.3% drop from the prior week. This weekly pace is clearly descending, and we can expect it to slow even further as we approach Thanksgiving and the year-end holidays.
Liquidity Pace (The 30-Day Pace of Buyer Demand):
Over the past 30 days, 986 buyers have put properties under contract–marking one of the strongest Octobers we’ve seen in quite some time. The 30-day pace is up 4% week-over-week, and while these numbers are certainly encouraging, the year-over-year comparison shows that current contract activity is roughly inline with October 2024. UrbanDigs has reported positively to the market's current level of activity, pointing out that it is especially positive considering it’s unfolding in a pre-election environment, which typically adds a layer of buyer hesitation. Looking at the weekly numbers, 257 apartments were put into contract last week, a 1.2% increase from the week prior. These last couple of weeks have posted some of the highest weekly contract-sign rates of the year. In fact, stringing together two consecutive weeks of 250+ signed contracts speaks volumes about the resilience of the Manhattan real estate market. Let’s hope this upward trend carries into mid and late November, helping to close out the fall season on a strong note.
About Dylan Hoffman
Dylan Hoffman
With a stellar track record of success spanning over two decades, Dylan Hoffman has become one of the most well-regarded brokers in New York City real estate. Known for his deft ability to simplify complicated transactions, stay abreast of the ever-evolving marketplace and connect with his clients in a meaningful way, he's a powerful resource for buyers, sellers, renters and investors. It's no surprise that his dynamic approach has driven The Hoffman Team at Compass to the upper echelons of New York City success: The team ranked No. 4 in transactions and No. 11 in dollar volume according to WSJ/REAL Trends.
As a New York real estate investor himself, Dylan is ever-mindful of the fact that he's dealing with his clients' most prized assets, which drives his laser-focus on maximizing value. He's assembled an extensive local network, and he provides expert guidance in everything from securing financing and legal advice to finding the best architects and contractors. From the initial consultation to the closing table, Dylan is a trusted advisor, skilled negotiator and expert broker ready to help clients exceed their unique real estate goals.
A California native, Dylan studied theater at California State University, putting himself through college and an acting conservatory with a multitude of roles in commercials, on television and with national touring companies. Today, Dylan resides on the Upper West Side with his wife and two children. In his free time, he can be found with his family, enjoying Central Park or exploring Manhattan on a CitiBike.
