Q1 2025 Market Report: A Market In Gradual Recovery

For the New York real estate market, the first quarter came in like a lion and mostly just kept on roaring. New York, a reliably Democratic city, entered the year uncertain about how the re-election of President Donald Trump would impact our market and markets in general. While many businesspeople and finance professionals expected a more pro-business environment, that has not exactly taken place. But even as the tariffs have come and gone and come again, the residential real estate markets in Manhattan and Brooklyn have remained stronger than they have been since 2021, as the securities markets have taken their big hit during the month of March.