ELLIMAN REPORTS
Elliman Market Reports are market reports produced by Douglas Elliman in conjunction with Miller Samuel to provide the most comprehensive, objective and up-to-date market insights available.
Brooklyn
Q1 2025 / Elliman Report Brooklyn Sales
New price records in Brooklyn were set as the market remained brisk. Median and average sales prices rose to record highs, reflecting an increase in sales year over year for the second time. Listing inventory increased year over year for the fourth time, while luxury price trend indicators demonstrated year over year stability.
Manhattan
Q1 2025 / Elliman Report Manhattan Sales
Mortgage rates in Manhattan decreased this quarter, and a record-setting rental market pushed more consumers to enter the purchase market. Sales surged for both co-ops and condos on an annual basis, while their listing inventory experienced a more modest increase. All price trend indicators showcased significant gains as the sales mix expanded to larger units. Purchase mortgage sales grew at double the annual rate compared to cash sales. Resales increased year over year at triple the pace of listing inventory. New development sales surged annually at a notably higher rate than resales, particularly for transactions exceeding $5 million, while their average sales size grew annually at its second-fastest rate in over four years. Luxury price trend indicators rose annually at a faster rate than the overall market. The luxury listing inventory – including both resales and new developments - declined year over year.