33 East 22nd Street 5D
445 Lafayette 11C
414 E 52nd Street 2A
150 Rivington St #PH
1001 Fifth Ave #9C
150 E 93rd St #PHE
115 E 67th St Duplex #3/4
1001 Fifth Ave #10C
53 W 53rd St #PH76
Issue 110 – Summer Real Estate Outlook: Partly Sunny with Brighter Skies Ahead
June 1, 2025
While the real estate market traditionally slows down from Memorial Day to Labor Day, well-priced and carefully curated and marketed properties will still rise to the top — no matter the season. Summer will be a time of clarification, allowing us to head into a very active fall.
Although it is still late spring, home sales remain steady. Buyers continue to be active right now, but we will soon transition past the peak of the spring frenzy as we head into summer. Nothing about this is unusual.
According to the Olshun Luxury Market Report, released in mid-May, the market has been productive. Thirty-one contracts, each for more than $4 million, were signed in Manhattan. Condos outsold co-ops at a ratio of 15 to 12, and four townhouses were in the mix. That said, for the first time since the summer of 2021, the top two sales were co-ops. This is all great news!
While mortgage rates have mostly been flat, the market has experienced steady movement. According to Urban Digs, Manhattan’s active inventory was 7,260 listings in mid-May. New listings were down 24 percent week-over-week, indicating we may have reached a sort of market-movement solstice, which is par for the course each year.
I think the summer will be a time when people try to ascertain how all factors will play out — not just in real estate, but in the world. Overall, I’d say that while the market will certainly not crash, it will merely seek to maintain stability. On the bright side, when the market direction is unclear, it often creates an opportunity that can be just as lucrative as when we have a firmer grasp of where the market is heading and what is available.
For example, if U.S. currency weakens, New York City real estate becomes more cost-effective for foreign investors regardless of the season, sparking even more global interest. Traditionally, even in times of severe strife, such as a recession or a significant downturn or catastrophe, NYC real estate manages to recover incredibly quickly and end up soaring.
Well-priced properties in highly sought-after neighborhoods will always attract buyers, while those in fringe areas, particularly in the summer slowdown, will suffer. The properties that rise to the top generally boast good bones, thoughtful renovations, and a top-tier marketing plan. Intentional buyers are ready to scoop up these refined listings no matter the season, and it’s a big win if they get to do so when more casual buyers are busy having fun in the sun.
More good news for sellers: A recent study by The Happy City Index, created by the Institute for Quality of Life to measure and rank cities based on various factors related to well-being and happiness (including public services, education, environment, and inclusive policies), ranked New York City as the happiest place to live in the country. NYC was also ranked 17th worldwide, putting it among the happiest cities globally, alongside Copenhagen, Stockholm, and Zurich.
As Bankrate aptly summarized, “The continued combination of high mortgage rates, steep home prices and insufficient inventory levels points to 2025 being another tough year for buyers and sellers,” but ultimately leads to more growth in 2025 than 2024. With the right strategies and insights, both buyers and sellers can navigate this unique landscape successfully. The future holds promise, and those who engage thoughtfully with NYC’s market — which is notoriously resilient — may find their efforts rewarded in ways that are fruitful and fulfilling.
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