There is an elite group that raises the real estate market in Manhattan now – everyone else is sitting in their hands

Money is king when it comes to buying a home in Manhattan.

High mortgage rates and other factors are making the average buyer of NYC skittish, but buyers of luxury houses have no such skills, reveal new data.

The cash agreements accounted for a record 69% of the construction of Manhattan houses in the second quarter of 2025, according to a quarterly report by Miller Samuel for Douglas Elliman.

Meanwhile, the general market is to show a slowdown. As cash sales increased, agreements involving contingent financing-the buyer will not be penalized if they cannot ensure the second-level financing in a decade.

The author of the report Miller Samuel told the real agreement that these opposing tendencies reflect a market that is “highly polarized”.

Unbalance in real estate in Manhattan can be partially traced to the financial markets.

Samuel thought that the outlet that success in the luxury market is close to the success of financial markets. When Wall Street does well, so does the billionaire line.

Cash agreements this spring prompted 23%, according to the quarterly report. Luxury sales, which means 10% of the high-sales of co-op and Condo, exceeded the general market. This Manhattan real estate segment began $ 4.5 million in the last quarter and claimed an average sale price of $ 6.52 million.

Keller Williams Nicole Gary told The Post in early April that long-term luxury units were starting to move, as the ultra-luxury market of the city had its best trimester in six years.

“People always think that Manhattan Real Estate is a safe bet. It’s a protection against inflation, and it’s a place where people feel when you know that the stock market is unstable,” Gary said.

Luxury luxury sales increased by 18% further, and harsh competition lowered high -level inventory by 21%.

The rest of the market remains chained to the fierce funding realities of a house in 2025.

While the overall transactions the last trimester increased by more than 16% year by year, the average man of the Manhattan home still enjoyed the coldest spring temperatures.

Average pricing in the overall market saw less than an increase of 2% – up to an average of $ 1.2 million – compared to the same time last year, while the general inventory began with 3%.

Miller told the real deal that he expects a greater slowdown to come.

Peace of real estate means that much of the closures last quarter were in the works long before Trump’s shock tariffs hit Wall Street Wallets.

It remains to be seen whether market anxieties will affect the purchase of manhattan’s elusive money buyers.