"Average and median prices for homes across the borough rose to their highest levels on record in the third quarter of 2025, with the median sales price now crossing the million-dollar mark, according to a market report from appraisal firm Miller Samuel for Douglas Elliman. The average sale price of all types of homes climbed 11.6 percent year over year to $1,388,463, while the median hit $1.05 million, up 7.7 percent from the same time last year."
"Sales activity and inventory also increased, showing movement in the market, especially among luxury listings where inventory was up 84.4 percent on the prior year and sales were up 36.1 percent. The number of listings for all types of homes in the borough rose 16.3 percent year over year in the third quarter to 3,417 homes and sales volume ticked up 7.1 percent from a year earlier to 2,705 transactions."
Median and average home prices in the borough reached record highs in Q3 2025, with the median sale price surpassing $1.05 million and the average at $1,388,463. Year-over-year, the median rose 7.7 percent and the average climbed 11.6 percent. Listings increased 16.3 percent to 3,417 homes and sales volume rose 7.1 percent to 2,705 transactions. Luxury market activity showed pronounced movement, with luxury inventory up 84.4 percent and luxury sales up 36.1 percent. Inventory remains comparatively low overall, and 22 percent of sales sold for over asking price.
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