The couple, who have been dating for about a month, were spotted checking out a $4.5 million apartment in Manhattan, New York.
The swanky pad is sandwiched between the historic Flatiron building and the Empire State and is nestled on the back of Madison Square Park.
A witness said: “When they'd finished looking Blake left the building first. She was wearing knee-high boots with jeans, a coat and a fedora hat.'
Blake reportedly got straight into a Town Car and Ryan left shortly afterwards - stepping into the same car.
'Blake's little dog was waiting with the driver in the car for them while they looked inside the building,” the witness was reported to say.
The Gossip Girl star, 24, was dating Leonardo DiCaprio before hooking up with Canadian hunk Ryan Reynolds, 35.
The X-Men actor finalised his divorce from film siren Scarlett Johansson, 26, in July of this year after a two-year marriage.