The Manhattan townhouse market recorded a meaningful uptick in activity during the third quarter of 2025, consistent with the typical rebound that follows a presidential election year. Transaction volume rose 23% year over year to 253 sales, indicating renewed buyer engagement after a quieter 2024. However, pricing has not kept pace with the increase in sales. The average sale price declined 14% to $6.9 million, and the average price per square foot fell 4% to $1,324, reflecting greater activity at lower price points and continued negotiation around value. Despite the moderation in pricing, total dollar volume edged up to $715 million, one of the highest quarterly totals since mid-2023, signaling that market momentum has returned, though at adjusted price levels.
Across the borough, several key markets stood out. On the Upper East Side, activity accelerated, highlighted by the sale of 16 East 64th Street, a Leslie J. Garfield exclusive that closed for $21 million. Chelsea posted solid gains, buoyed by multiple high-end trades including 348 West 22nd Street, which achieved over $2,500 per square foot and closed for $13.5 million. Downtown, Tribeca and SoHo saw renewed momentum led by 11 Hubert Street, which sold for $17.4 million, while Harlem continued its impressive run with a 71% jump in transactions and a 43% rise in dollar volume.
Overall, Manhattan’s townhouse sector remains fundamentally solid. Well-located, renovated properties continue to draw decisive buyers, while value-conscious purchasers are finding opportunities in estate-condition homes and multi-family conversions. With sustained demand and an expanding pool of active listings, the market enters the final quarter of 2025 on firm footing.
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