New York – Real Estate Weekly Update (August 11–17, 2025)

Overall Synopsis

Manhattan’s luxury sector entered a quieter rhythm last week, with only 10 contracts signed at $5M and above—down a notable 33% from the prior period. A sharper-than-usual drop in total volume (nearly 68%) points to a temporary pause in ultra-high-end transactions, not necessarily a shift in sentiment. With average asking prices cut in half and PPSF sliding, this reset signals selectivity, not surrender. However, shorter average days on market and a slight lift in median pricing reflect underlying confidence. The Upper West Side emerged as the week’s quiet leader, capturing 40% of luxury deal volume—a testament to lifestyle appeal and inventory fit. In a transitional August week, where some buyers pause and others pounce, precision positioning remains everything.

Market Snapshot

• Contracts Signed: 10 (↓ from 15 prior week)
• Total Volume: $85.85M
• Average Asking: $8.585M | Median: $6.792M
• Average PPSF: ~$2,497
• Days on Market: ~91 (↓ from 123)
• Breakdown:
  • Condos: 7 contracts | Avg Ask: $9.17M | PPSF: $2,649
  • Co-ops: 2 contracts | Avg Ask: $5.84M
  • Townhouses: 1 contract | $10M | PPSF: $1,429
  • Top Neighborhood: Upper West Side (40% of contracts)

What’s Driving It

The August slowdown is seasonal but not soft. Buyers remain alert, but the appetite for top-tier listings narrowed to value-aligned properties rather than aspirational asks. The sharp drop in total volume stemmed from the absence of $30M+ contracts rather than a lack of interest. Median pricing’s resilience and faster DOM suggest that well-priced, well-staged listings continue to draw decisive action. Condos led but didn’t overperform, and townhouses retracted to a single trade—highlighting a rebalancing moment. For sellers, the margin of success now lies in timing and tailored strategy: pre-market whisper campaigns, data-backed price placement, and visual storytelling aligned to lifestyle aspiration. KēHaus Real Estate emphasizes refined, narrative-forward marketing—particularly across UWS and Midtown corridors—to surface latent demand even in leaner weeks. Our method—staging with soul, pricing with purpose, launching with vigor—ensures listings aren’t just seen but signed.

Key Market Stats

Despite fewer contracts, median price and days on market improved slightly, while total volume dropped sharply by nearly 68%.

Property Type Breakdown

Condos remained dominant but trailed their previous week’s volume. Townhouse activity also fell, and co-op volume remained flat.

Geographic Distribution

Upper West Side saw the largest share of contracts, doubling from the previous week. Downtown and UES saw notable drops in activity.

Notable Contracts

• 111 West 57th Street, Unit 42 — $22,500,000 | Condo | 4 Beds, 4.5 Baths | 4,492 SF | 274 DOM | PPSF: $5,009
• 330 West 88th Street — $10,000,000 | Townhouse | 4 Beds, 6 Baths | 7,000 SF | 168 DOM | PPSF: $1,429
• 1289 Lexington Avenue, Unit 19A — $9,150,000 | Condo | 5 Beds, 5.5 Baths | 3,609 SF | 1 DOM | PPSF: $2,536
• 15 Hudson Yards, Unit 70B — $8,495,000 | Condo | 4 Beds, 4.5 Baths | 3,029 SF | 125 DOM | PPSF: $2,805
• 53 West 53rd Street, Unit 33C — $7,410,000 | Condo | 3 Beds, 3 Baths | 2,518 SF | 1 DOM | PPSF: $2,943

Market Observations

·         🔴 Contract count dropped by one-third from the previous week.

·         🔴 Total volume fell by nearly $182M, driven by a lack of ultra-luxury deals.

·         🟢 Median pricing held firm week over week.

·         🟢 Upper West Side was the top-performing submarket by share.

All prices are asking prices. Data is sourced from Compass and reflects contracts signed from August 11–17, 2025. Report for internal Compass use.