By Heloisa Germano | Truth & Trust Advisory Group
Source: StreetEasy Market Report – September 2025
A Promising Start to Fall
New York City’s housing market kicked off this fall with its strongest performance since 2021 — signaling renewed confidence among both buyers and sellers.
According to StreetEasy, 1,721 homes went under contract in September 2025, up 10.3% from the same month last year.
This momentum comes despite lingering affordability pressures and cautious lending environments.
More Listings, Faster Sales
- 4,581 new listings hit the market (+9.6% YoY)
- Homes sold in a median of 77 days, 9 days faster than last year
- 19.2% of homes sold above asking price, compared to 17.9% a year ago
This combination of more listings and faster sales shows that buyers are back — and that sellers are adjusting pricing strategies to meet current demand.
Borough-by-Borough Breakdown
| Borough | Homes Under Contract | Year-Over-Year Change | Median Asking Price | Median Days on Market |
|---|---|---|---|---|
| Manhattan | 756 | +10.4% | $1.447 M | 79 days |
| Brooklyn | 494 | +10.8% | $995 K (approx.) | 64 days |
| Queens | 343 | +7.5% | $699 K (approx.) | 71 days |
Each borough showed steady growth, with Brooklyn leading the pace in turnover and Manhattan retaining its top-tier pricing even amid modest corrections.
Rental Market Snapshot
The rental market remains tight — but shows early signs of cooling after months of record highs.
| Metric | September 2025 | Year-Over-Year Change | Month-Over-Month Change |
|---|---|---|---|
| NYC Median Asking Rent | $3,995 | +7.2% | -1.4% |
| Rental Listings (City-Wide) | 34,873 | -6.9% | — |
| Manhattan Median Rent | $4,600 | +7.8% | -1.2% |
| Manhattan Rental Inventory | 15,494 | -11.9% | — |
The data reveals a seasonal adjustment — rents typically dip slightly as summer leasing season ends — but long-term pressures remain, especially in Manhattan and prime Brooklyn.
What Buyers & Renters Should Know
- For Buyers: More listings and quicker sales make fall a great time to act. Inventory is improving, and sellers are more open to negotiation.
- For Renters: Despite small declines, rents remain high due to limited inventory. Locking in a lease this fall might prevent bigger hikes next spring.
Final Thoughts
Even with mortgage rates hovering near their peak, the NYC housing market continues to show resilience.
The fall season is shaping up to be one of renewed opportunity — a moment for serious buyers to find value and for sellers to meet strong, qualified demand.
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