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New York City’s new development contracts fell 30 percent from last year, according to data from Marketproof.

Buyers looking for new condos in 2025 faced a steep climb.  New development contract signings were down 11 percent compared to 2024, according to Marketproof data covering deals closed in 2025.  The culprit for the lackluster contract numbers was not a lack of demand, according to Marketproof CEO Kael Goodman, but a dearth of desirable buildings.  “It’s all a function of the product,” he said. “If the product is good, people will buy it. If the product is less desirable, even in this type of market, it just sits there.  That phenomenon was seen in the strong sales figures a […] This article originally appeared on The Real Deal. Click here to read the full story.

For New York City’s new development market, 2025 has been a year of whisper trades and low inventory.  While a handful of buzzy sales launches powered the market, executives, brokers and data analysts spent the year warning of an imminent inventory cliff, as demand for quality projects continued to significantly outpace supply.  “The overall story is continuing to just whittle down on the inventory,” said Marketproof co-founder Kael Goodman. “The total number of units is growing so slowly.” The market still had its fair share of highs.  Perhaps the buzziest new development launch kicked off with little fanfare in early […] This article originally appeared on The Real Deal. Click here to read the full story.

It’s turning into a fall to forget for New York City’s new development market.  The city recorded 215 contracts in October, down roughly 30 percent from the same period the prior year, according to a Marketproof report.  It has been the third straight month where new development contracts failed to beat last year’s numbers. During that time period, the segment’s contract volume has fallen by roughly 19 percent.  While demand overall in the city remained strong, the new development market has continued to suffer from a lack of new inventory with which to entice buyers. In Brooklyn in particular, there […] This article originally appeared on The Real Deal. Click here to read the full story.

March saw a number of blockbuster new development deals amid dwindling inventory. In total, there were 302 contracts signed in New York City compared to 284 in the same month last year, according to Marketproof’s monthly report.  “It was a nice little uptick,” said Marketproof CTO Ning Zhou of the month’s performance. It was the […] This article originally appeared on The Real Deal. Click here to read the full story.

Thanksgiving be damned, the new development market continued its hot streak.  The 246 signed contracts signed this month represents the third-highest monthly total in the last 10 years, according to Marketproof CTO Ning Zhou.  This month was only outpaced…

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