May 24, 2025
If you're keeping an eye on the New York City real estate market in 2025, the big headline is simple: prices are up.
According to a new PropertyShark report, the median sale price across NYC jumped 10% year-over-year in the first quarter, from about $698,000 to $768,000.
Manhattan, as you might expect, led the charge with the top five most expensive neighborhoods in the city.
Hudson Yards took the crown, with a jaw-dropping median price of $5.355 million. Little Italy, SoHo, TriBeCa, and Hudson Square followed close behind.
Hudson Square was especially impressive, seeing a 61% price increase compared to last year — a huge jump even by Manhattan standards.
Over in Queens, the story was a little calmer. Median sale prices in the borough rose 6%, from $549,000 to $581,000.
But that doesn’t mean Queens didn’t make noise. Malba, a hidden gem known for its grand homes and waterfront vibes, ranked 11th citywide with a median price of $1.55 million.
It’s not called “the Hamptons of Queens” for nothing. East Flushing also made headlines with a 51% leap in median sale price, thanks to a boom in home sales at higher price points.
Brooklyn continues to flex its strength too. It had 22 neighborhoods among the city’s top 50 most expensive areas, even more than Manhattan’s 20.
Median prices in Brooklyn climbed from $763,000 to $858,000, and areas like Cobble Hill, DUMBO, and Boerum Hill all cracked the top 10.
Madison, Brooklyn stole the show though, with an unbelievable 145% jump in median price—mainly because more houses, rather than condos, sold in the area this year.
The Bronx, on the other hand, stayed relatively quiet. The median sale price moved up only slightly, from $315,000 to $345,000, and none of its neighborhoods made the top 50 list.
For buyers and sellers alike, 2025 is shaping up to be a busy and competitive year across NYC, with Manhattan and Brooklyn setting the tone and hidden pockets like Malba and East Flushing proving that Queens has some serious star power too.
Disclaimer: This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.
