As we soak up the last of summer, the New York City real estate market continues to balance steady momentum with strategic shifts. In Manhattan, the median sale price in July was $1,195,000. While that marks a slight dip from June, the average price per square foot rose to $1,583, up 6.9% year-over-year, highlighting sustained demand for quality listings. Homes are spending fewer days on market, reflecting a competitive environment where serious buyers remain decisive.

Brooklyn also held firm, with a July median sale price of $1,050,000 and an average price per square foot of $973, a 2.8% increase compared to last year. Inventory levels stayed healthy, and market pace remained stable, underscoring a resilient buyer pool that continues to engage, particularly when properties are priced right.

Across both boroughs, the market remains dynamic but measured. Buyers are active, yet selective. Sellers who lead with presentation and precision continue to secure strong outcomes. As we move through the final stretch of summer, it’s an ideal moment to evaluate your goals.

Whether you’re preparing to list, considering a purchase, or simply curious about your options, The Richard Steinberg Team is here to guide you with trusted insight and tailored strategy.