Manhattan Weekly Market Update

Week of 5/19

Summary:

Both overall demand and weekly contract activity ticked down. Supply continued its steady climb. After a strong start, 2025 demand has faded from leading recent years to merely keeping pace, as bursts of activity in March and late April/early May failed to sustain momentum. With Moody’s downgrade of U.S. debt adding to uncertainty, a late-season surge in deals seems increasingly unlikely.

Market Pulse: Currently a buyer’s Market

Detailed View:

Supply

Manhattan supply increased 1% week-over-week.

Demand

Demand decreased 1.5% week-over-week.

New Listings

New listings increased 15.8% week-over-week.

Contracts Signed

The number of signed deals decreased 16% week-over-week.

Mortgage Rates

Increased 8 bps week-over-week

Source: UrbanDigs

Week of 5/12

Summary:

This week, Manhattan looks to be picking up into May, which would be seasonally appropriate, as May tends to have slightly more deal volume than April. We also got our first glimpse that the listing season may be drawing to a close. At the same time, buyers signed 273 deals over the week, the third highest print of the year, suggesting demand remains on track, even as mortgage rates ticked back up.

Market Pulse: Currently a Neutral Market

Detailed View:

Supply

Manhattan supply increased 1% week-over-week.

Demand

Demand was flat week-over-week.

New Listings

New listings decreased 24% week-over-week.

Contracts Signed

The number of signed deals increased 7% week-over-week.

Mortgage Rates

Increased 7 bps week-over-week

Source: UrbanDigs

Week of 5/5

Summary:

This week, Manhattan real estate returned to typical spring form. Supply rose in line with seasonal trends, and while demand softened, contract signings rebounded above 255—indicating more deals are being made than withdrawn. With new listings at expected levels, recent stock market volatility may end up having only a limited impact.

Market Pulse: Currently a Neutral Market

Detailed View:

Supply

Manhattan supply increased 2.4% week-over-week.

Demand

Demand decreased 1% week-over-week.

New Listings

New listings increased 5% week-over-week.

Contracts Signed

The number of signed deals increased 24% week-over-week.

Mortgage Rates

Decreased 6 bps week-over-week

Source: UrbanDigs

Week of 4/28

Summary:

As April wraps up, Manhattan supply rose 2.6% while demand slipped 6.5%. Coming off a holiday week, the dip in demand isn’t shocking, but it raises the question: is this the start of macroeconomic uncertainty impacting the market? The next few weeks will be key as the spring season winds down.

Market Pulse: Currently a Neutral Market

Detailed View:

Supply

Manhattan supply increased 2.6% week-over-week.

Demand

Demand decreased 6.5% week-over-week.

New Listings

New listings increased 27.7% week-over-week.

Contracts Signed

The number of signed deals decreased 16.9% week-over-week.

Mortgage Rates

Increased 7% week-over-week

Source: UrbanDigs

Week of 4/21

Summary:

Manhattan supply rose slightly by 0.5%, indicating a slowdown in inventory growth, while new listings fell 26% due to the holiday week. Demand dipped 1% but remains above seasonal norms. Meanwhile, contracts signed increased, signaling steady buyer interest despite recent market volatility. The key question now: how many of these deals were initiated before the turbulence—and how many will follow after?

Market Pulse: Currently a Neutral Market

Detailed View:

Supply

Manhattan supply was flat week-over-week

Demand

Demand was flat week-over-week

New Listings

New listings decreased 26% week-over-week

Contracts Signed

The number of signed deals increased 6% week-over-week

Mortgage Rates

Increased 7% week-over-week

Source: UrbanDigs

Week of 4/14

Summary:

This week brought the first signs that Manhattan may be feeling the effects of broader macroeconomic volatility. While supply remained on trend, demand dipped, with a notable 17% drop in weekly contracts signed. Some slowdown is typical in April, but combined with rising mortgage rates and a declining stock market, it hints at possible transactional turbulence ahead.

Market Pulse: Currently a Neutral Market

Detailed View:

Supply

Manhattan supply increased 2.2% week-over-week

Demand

Demand was flat week-over-week

New Listings

New listings decreased 5.7% week-over-week

Contracts Signed

The number of signed deals decreased 17% week-over-week

Mortgage Rates

Increased 7% week-over-week

Source: UrbanDigs

Week of 4/07

Summary:

Despite some macroeconomic headwinds, Manhattan had a strong week. New listings and supply are tracking seasonal norms, but the standout was deal volume—281 contracts signed pushed the 30-day pace to its highest since 2022. With the 10-year yield dipping below 4%, falling mortgage rates could draw even more buyers into the market.

Market Pulse: Currently a Neutral Market

Detailed View:

Supply

Manhattan supply increased 1.6% week-over-week

Demand

Demand is up 2.9% week-over-week

New Listings

New listings increased 19.7% week-over-week

Contracts Signed

The number of signed deals increased 6% week-over-week

Source: UrbanDigs

Week of 3/31

Summary:

Manhattan had another seasonally on-trend week, with supply rising as expected and demand reaching its highest level for this week since 2019 (excluding 2021 and 2022). While new listings and contracts dipped slightly, the overall spring season is shaping up to be one of the strongest in recent years.

Market Pulse: Currently a Neutral Market

Detailed View:

Supply

Manhattan supply increased 2.6% week-over-week

Demand

Demand is up 4.3% week-over-week

New Listings

New listings decreased 16% week-over-week

Contracts Signed

The number of signed deals decreased 6.7% week-over-week

Source: UrbanDigs

Week of 3/24

Summary:

After last week’s fluctuations, Manhattan returned to form with supply and demand rising as expected. New listings dipped slightly but stayed on trend, while contracts signed hit their highest weekly total since May 2023. Looking ahead, listings should hold steady, and as long as contract activity remains strong, market equilibrium should continue.

Market Pulse: Currently a Neutral Market

Detailed View:

Supply

Manhattan supply increased 3.6% week-over-week

Demand

Demand is up 11.7% week-over-week

New Listings

New listings decreased 3.2% week-over-week

Contracts Signed

The number of signed deals increased 18.3% week-over-week

Source: UrbanDigs

Week of 3/17

Summary:

This week saw a nearly 5% jump in supply—the largest spring increase so far, more typical of fall. Meanwhile, demand slowed. While one week doesn’t make a trend, it’s worth watching whether this signals a shift toward higher supply and lower activity.

Market Pulse: Currently a Neutral Market

Detailed View:

Supply

Manhattan supply increased 4.6% week-over-week

Demand

Demand is up 1% week-over-week

New Listings

New listings increased 13.5% week-over-week

Contracts Signed

The number of signed deals decreased 3% week-over-week

Source: UrbanDigs

Week of 3/10

Summary:

With March here, the spring market is in full swing, reflected in rising supply and demand. While demand still outpaces supply, a 28% surge in new listings signals that fresh inventory may be on the way.

Market Pulse: Currently a Neutral Market

Detailed View:

Supply

Manhattan supply increased 1.7% week-over-week

Demand

Demand is up 6.9% week-over-week

New Listings

New listings increased 28.1% week-over-week

Contracts Signed

The number of signed deals decreased 11.7% week-over-week

Source: UrbanDigs

Week of 3/03

Summary:

Supply, demand, new listings, and contracts all rose this week ahead of peak spring activity. However, demand outpaced supply at both weekly and overall levels. Typically, supply increases first, followed by contracts, but this year, demand is leading—potentially making the market more competitive for buyers than expected.

Market Pulse: Currently a Seller’s Market

Detailed View:

Supply

Manhattan supply increased 2.2% week-over-week

Demand

Demand is up 5.7% week-over-week

New Listings

New listings increased 4.2% week-over-week

Contracts Signed

The number of signed deals decreased 18.7% week-over-week

Source: UrbanDigs

Week of 2/24

Summary:

Supply and demand rose after the holiday week, though only new listings increased weekly. Contracts signed dipped slightly, as expected, highlighting that while demand is improving ahead of spring, it remains steady rather than record-breaking.

Market Pulse: Currently a Seller’s Market

Detailed View:

Supply

Manhattan supply increased 1.5% week-over-week

Demand

Demand is up 5.6% week-over-week

New Listings

New listings increased 11% week-over-week

Contracts Signed

The number of signed deals decreased 12% week-over-week

Source: UrbanDigs

Week of 2/17

Summary:

Manhattan's market remains on track, with demand rising slightly faster than supply. Though both are minimal, continued growth could tighten conditions for buyers as activity increases. Mortgage rates are below recent highs, but volatility complicates trend forecasting.

Market Pulse: Currently a Seller’s Market

Detailed View:

Supply

Manhattan supply stayed flat week-over-week

Demand

Demand is up 4% week-over-week

New Listings

New listings decreased 5% week-over-week

Contracts Signed

The number of signed deals increased 2% week-over-week

Source: UrbanDigs

Week of 2/10

Summary:

Manhattan's market trends remained consistent this week, with supply still below historical levels but gradually increasing. Demand is also showing early signs of acceleration, indicating positive momentum as spring approaches. Additionally, the gradual decline in mortgage rates presents a potential catalyst worth monitoring.

Market Pulse: Currently a Seller’s Market

Detailed View:

Supply

Manhattan supply stayed flat week-over-week

Demand

Demand is up 12% week-over-week

New Listings

New listings increased 21% week-over-week

Contracts Signed

The number of signed deals increased 27% week-over-week

Source: UrbanDigs

Week of 2/03

Summary:

Manhattan's supply and demand are steadily improving ahead of spring. Weekly volatility will persist until seasonal trends align more clearly. Meanwhile, mortgage rates have dipped below 7%, potentially aiding finance-dependent units in attracting buyers.

Market Pulse: Currently a Seller’s Market

Detailed View:

Supply

Manhattan supply increased 2%

Demand

Demand is up 10%

New Listings

New listings decreased 23%

Contracts Signed

The number of signed deals decreased 16%

Source: UrbanDigs

Week of 1/27

Summary:

Last week, we saw a positive shift in both supply and demand as the market begins its slow build-up to the spring season. Mortgage rates seem to have stabilized, and the number of contracts signed continues to outpace last year’s figures, fueling hope that the momentum we saw in the fall is starting to make a comeback. While it’s still early in the year, the next few weeks should offer more clarity on where the market is heading.

Market Pulse: Currently a Seller’s Market

Detailed View:

Supply

Manhattan supply increased 2%

Demand

Demand is up 1.3%

New Listings

New listings increased 59%

Contracts Signed

The number of signed deals increased 51.5%

Source: UrbanDigs

Week of 1/20

Summary:

As we enter the winter season, we're seeing slower activity in both supply and demand. While listing volume should gradually increase over the coming weeks, overall supply is expected to remain subdued until March. Demand will likely begin to rise as spring approaches, though with interest rates still around 7%, the non-luxury market may take longer to regain its usual seasonal momentum.

Market Pulse: Currently a Seller’s Market

Detailed View:

Supply

Manhattan supply increases 1.2%

Demand

Demand is down 12.1%

New Listings

New listings decreased 26.5%

Contracts Signed

The number of signed deals decreased 19.8%

Source: UrbanDigs

Week of 1/13

Summary:

The first full week of the year saw typical, low seasonal activity. The dip in supply from December to January was the highest in over 10 years and adds an added complication to both buyers and sellers who are active in the market today. With rate cuts on pause for several months and mortgage rates staying higher for longer, the spring season is beginning with a question mark.

Market Pulse: Currently a Seller’s Market

Detailed View:

Supply

Manhattan supply increases 2.5%

Demand

Demand is down 7%

New Listings

The number of weekly new listings increased 319% with the start of the new year.

Contracts Signed

The number of signed deals increased 54%.

Source: UrbanDigs

Week of 12/23

Summary:

Supply

• Another 4.6% drop

Liquidity

• Ticked down a scant 1%

Weekly New Listings

• Down 29%

Weekly Contracts Signed

• Unchanged from last week

Market Pulse: Currently a Seller’s Market

Detailed View:

Supply

Manhattan supply drops another 4.6% as the year draws to a close.

Demand

The overall pace of liquidity decreased by a slight1% given the time of year.

New Listings

The number of weekly new listings fell 29% - no surprises here.

Contracts Signed

The number of signed deals stayed the same over the year - a strong ending to a strong quarter

Source: UrbanDigs

Week of 12/16

Summary:

Supply

• Another 3% drop

Liquidity

• Ticked up 1%

• Trend staying high despite seasonal gravity

Weekly New Listings

• Down 13%

Weekly Contracts Signed

• Surged 28% from prior week

Market Pulse: Currently a Seller’s Market

Detailed View:

Supply

Manhattan supply drops another 3% as it cools down for winter.

Demand

The overall pace of liquidity increased by 1% and ticked back above 2020's pace.

New Listings

The number of weekly new listings fell 13% - no surprises here.

Contracts Signed

The number of signed deals rose 28%, likely due to a backlog of deals, but the addition of deal volume keeps the recovery trend in place.

Source: UrbanDigs

Week of 12/09

Summary:

Supply

• Another 2% drop

Liquidity

• Fell by 4%

Weekly New Listings

• Rebounded 111% from quiet Thanksgiving week

Weekly Contracts Signed

• Rebounded 111% from quiet Thanksgiving week

Market Pulse: Currently a Seller’s Market

Detailed View:

Supply

Manhattan supply drops another 2% as it continues its winter wind down.

Demand

The overall pace of liquidity decreased by 4% during the post-Thanksgiving week and fell below 2023's weekly level for the first time since August.

New Listings

The number of weekly new listings rebounded after the holiday week, but the winter down trend is in place.

Contracts Signed

The number of signed deals fell 9% on the week with no post-holiday bump, suggesting a glimpse of market weakness.

Source: UrbanDigs

Week of 11/25

Summary:

Supply

• 2% drop

• Slowly winding down into winter

Liquidity

• 6% lower on the week

Weekly New Listings

• Down 16%

Weekly Contracts Signed

• Up 5% on the week

Market Pulse: Currently a Seller’s Market

Detailed View:

Supply

Brooklyn supply ticked slipped another 2% as fall fades to winter.

Demand

Liquidity ticked down nearly 6%, as the fall season starts rolling over into winter.

New Listings

New listings fell by 16%, with quieter weeks on tap.

Contracts Signed

Deal volume increased 5% on the week but the depth of decline this fall has been muted compared to the last couple years

Source: UrbanDigs

Week of 11/18

Summary:

Supply

• Small 0.5% drop

Liquidity

• 1% lower on the week

• First down week since Oct 1

Weekly New Listings

• Down 14%

Weekly Contracts Signed

• Fell 11% over the week

Detailed View:

Supply

Brooklyn supply ticked slipped 0.5% lower as it works its way down until spring.

Demand

Liquidity ticked down 1%, ending the string of up weeks that began in late September.

New Listings

New listings fell by 14%, with quieter weeks on tap.

Contracts Signed

Deal volume dropped 11% over the week and while the near term uptrend is still in play, the end-ofseason writing is on the wall.

Source: UrbanDigs

Week of 11/11

Summary:

Supply

• Declines 2%

Liquidity

• Liquidity (30-day contracts signed) ticked up 1%

Weekly New Listings

• New listings rose 43%

Weekly Contracts Signed

• Rose 14% on the week

Detailed View:

Supply

Brooklyn supply ticked ticked down a bit over 2% as it slowly winds down until spring.

Demand

Liquidity rose another 1% to set a new high water mark for the year, but the pace looks to be slowing

New Listings

New listings rose by 43%, somewhat evening out the steep drop last week, but the slowing trend remains in place

Contracts Signed

The level of weekly signed deals rose 14% and climbed back above 150 as the “Brooklyn’s Back” trend gains momentum.

Source: UrbanDigs