Fewer Contracts, Bigger Stories: August 2025 Luxury Market Recap
Kelly Robinson
Kelly Robinson
July 28 – Aug. 3, 2025: Just 9 contracts signed for $4M+ properties—the slowest week since September 2023.
Aug. 4–10, 2025: Deals bounced back to 22 contracts, more than doubling the week before.
Top Ticket: An $88M penthouse at 140 Jane Street (Downtown), potentially setting a new record for condo sales in that area.
Notable Upper East Side deal: A townhouse at 10 East 67th Street listed for around $45M.
Quick snapshot for August:
Period |
Contracts Signed |
July 28–Aug 3 |
9 |
Aug 4–10 |
22 |
Picture this: sweltering sidewalks and soaring temps, and…real estate showings? Not so much. Buyers are pool-bound, not penthouse-bound. So naturally, July 28–Aug 3 had just 9 deals signed, the slowest week in two years.
But give the market a break, cool it down, and it hums back. Aug 4–10 doubled activity to 22. And with trophy listings still commanding eye-popping prices, luxury isn’t taking a vacation, it’s just timing it better.
22 contracts total:
Condos: 16
Co-ops: 2
Townhouses: 4
Aggregate asking price for the 22 homes: $283 million
Average deal size: $12.9 million
Median asking price: $5.9 million
Typical days on market: ~640+
Avg discount: 5% off original ask
If luxury were a cocktail, it’s still all top-shelf—just with a chiller pacing.
Summer slumps are real, but luxury buyers aren’t ghosting—they’re strategizing.
Slow week? Better for discerning buyers. Fewer bidders, more flexibility.
Back-to-back weeks of luxury sales? Shoes off, terms on negotiable.
Deals may be fewer, but the ones closing? They’re still record-caliber.
August may have brought the heat, but Manhattan’s luxury market didn’t melt. Trophy properties are still commanding headlines (and 8-figure price tags), and even in the lightest weeks, buyers showed up with cash.
Whether you’re prepping a fall listing or scouting for your next penthouse, remember: Luxury never sleeps, it just vacations in St. Barts for a bit.
See you next month (hopefully with a breeze and a bidding war).
Check out our latest real estate listings from the team in more areas in New York City
Known for their attention to detail and collaborative work style, the One Global Advisory Team works to ensure their clients are expertly represented every step of the way.
CONTACT US