Manhattan Luxury Report | July 2025 Edition
Kelly Robinson
Kelly Robinson
Where the only thing hotter than a penthouse listing was the pavement.
From June 23 to July 14:
2025: 64 contracts at $4M+ → Total volume ~$555.26 M, averaging about $8.67 M per deal
2024 (same period): 72 contracts → Total volume ~$538.65 M, averaging about $7.48 M per deal
That’s an 11% drop in deal count, but a 16% jump in average deal size. So while fewer luxury homes traded hands, buyers shelled out more per property.
Week |
Contracts Signed |
July 1–6 |
18 |
July 7–13 |
18 |
July 14–20 |
29 |
July 21–27 |
25 |
Mid-July (July 14–20) saw a spike to 29 contracts, despite record-breaking heat. That week’s activity was the strongest of the month—but overall, July followed the typical summer slowdown pattern.
Let’s be honest—when it’s 104°F with city steam cooking your eyebrows, even the most serious buyer would rather tour the wine fridge than a sixth-floor walkup. Showings slowed. Brokers melted. But somehow… contracts got signed.
That dual-axis chart says it all: as the mercury rose, deal counts mostly cooled—except for a brief, possibly air-conditioned resurgence in mid-July.
Despite a dip in volume, closed prices remained strong. Luxury buyers may have been pickier, but they came prepared to spend—especially on turnkey or trophy-level units. Cash was king again in Q2, with 69% of luxury deals closed without financing.
Condos: Still leading the pack
Co-ops & Townhouses: Steady, niche-specific movement
Trophy Sales: Fewer, but high-dollar when they hit
Group |
Insight |
Sellers |
July is slower by nature—don’t panic. Strategic pricing still wins. |
Buyers |
Less competition, but higher per-unit prices. Move fast, negotiate well. |
Investors |
Manhattan remains resilient. Deal size is up; inventory is tightening. |
Luxury didn’t disappear—it just got sweaty.
The buyers still circling in July are decisive and deep-pocketed. Fewer total deals? Sure. But bigger ones. And as August picks up, watch for pent-up demand to return like Manhattanites from the Hamptons.
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