Manhattan’s housing market remained resilient in the second quarter, with signals of increasing momentum despite a shifting economic backdrop that kept inflation and mortgage rates elevated for much of the quarter, alongside the introduction of New York’s first-ever pied-à-terre tax. The luxury market continued to outperform, as affluent buyers remain largely insulated from higher interest rates while liquidity from IPOs, equity market gains, and the ongoing transfer of generational wealth continues to support demand for trophy properties. Sales finished 3.5% below the same period last year, while contract activity was 3.0% higher than a year ago — suggesting buyers remained engaged even as both average and median sale prices continued upward amid constrained inventory.
Manhattan’s housing market remained resilient in the second quarter, with signals of increasing momentum despite a shifting economic backdrop that kept inflation and mortgage rates elevated for much of the quarter, alongside the introduction of New York’s first-ever pied-à-terre tax. The luxury market continued to outperform, as affluent buyers remain largely insulated from higher interest rates while liquidity from IPOs, equity market gains, and the ongoing transfer of generational wealth continues to support demand for trophy properties. Sales finished 3.5% below the same period last year, while contract activity was 3.0% higher than a year ago — suggesting buyers remained engaged even as both average and median sale prices continued upward amid constrained inventory.
The introduction of the pied-à-terre tax appears to have had only a limited impact, with some buyers opting to purchase primary residences instead of second homes. The luxury segment led the market, with $20M+ properties recording a 25.0% increase in signings, while activity in the $10M–$20M segment surged 38.6%, continuing a trend of strong participation among high-net-worth buyers. Demand also broadened across more affordability-driven segments, with contract activity in Upper Manhattan and Lower Manhattan rising 15.6% and 24.5%, respectively.
Inventory remained a challenge in the second quarter, with active listings declining 8.2% year-over-year to 6,616 units. New listings also continued their downward trend, falling 13.0% from last year and extending a nearly three-year pattern of limited fresh supply — most noticeable in the $1M–$3M range, where both condo and co-op buyers face higher prices and fewer options. A notable exception was the ultra-luxury market, where new listings of $20M and above rose 39.1%, enabling much of this quarter’s trophy-buyer contract activity.
Overall, Manhattan’s spring market performed despite ongoing economic uncertainty. Fewer closings were largely due to limited new inventory and mid-quarter volatility tied to geopolitical events. As global conditions stabilize, the environment is likely to become increasingly favorable for buyers. Strong year-over-year contract growth, an active luxury pipeline, and continued inventory restraints position the market well for a positive third quarter — reinforcing Manhattan’s standing as one of the world’s most resilient real estate markets.
— Rory Golod, President of Growth & Communications · Danielle Elo, Senior Managing Director
Q2 2026 at a Glance
Market Highlights
$2,209,022
Average Sales Price
$2,994,960
Average Condo Price
$1,540
Avg. Price Per Sq Ft
7%
Average Discount
$1,275,000
Median Sales Price
$1,527,585
Average Co-op Price
122
Avg. Days on Market
28%
Properties >180 Days to Contract
By Property Type
Recorded Sales
- The $3M–$5M price point was a strong performer for both property types, with 7.2% and a significant 32.4% more closings year over year, respectively
- Lower Manhattan and Upper Manhattan both saw double-digit increases in the number of condo closings, while co-ops performed best on the Upper East Side and Upper West Side
- Co-ops on the Upper West Side were up 9.6% year over year in average price, reaching nearly $1.6M
- Most condos were sold between $1M and $3M with 45.4% market share, and compared to last year were 4.3% larger on average and more affordable
Overall Summary
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % Chg YoY |
|---|
| # Sales | 2,696 | 2,279 | +18.3% | 2,794 | −3.5% |
| Sales Volume | $5.96B | $5.11B | +16.6% | $5.91B | +0.8% |
| Avg. Discount | 7% | 7% | — | 7% | — |
| Median Price | $1,275,000 | $1,275,000 | — | $1,200,000 | +6.3% |
| Average Price | $2,209,022 | $2,241,231 | −1.4% | $2,114,188 | +4.5% |
| Avg. PPSF | $1,540 | $1,554 | −0.9% | $1,506 | +2.3% |
| Avg. Sq Ft | 1,356 | 1,335 | +1.6% | 1,313 | +3.3% |
Condos
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 1,252 | 1,047 | +19.6% | 1,284 | −2.5% |
| Sales Volume | $3.75B | $3.28B | +14.3% | $3.88B | −3.3% |
| Avg. Discount | 7% | 7% | — | 7% | — |
| Median Price | $1,791,060 | $1,800,000 | −0.5% | $1,702,784 | +5.2% |
| Average Price | $2,994,960 | $3,133,463 | −4.4% | $3,020,905 | −0.9% |
| Avg. PPSF | $1,782 | $1,797 | −0.8% | $1,766 | +0.9% |
| Avg. Sq Ft | 1,449 | 1,433 | +1.1% | 1,436 | +0.9% |
Co-ops
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 1,444 | 1,232 | +17.2% | 1,510 | −4.4% |
| Sales Volume | $2.21B | $1.83B | +20.7% | $2.03B | +8.8% |
| Avg. Discount | 6% | 7% | — | 7% | — |
| Median Price | $900,000 | $875,000 | +2.9% | $850,000 | +5.9% |
| Average Price | $1,527,585 | $1,482,978 | +3.0% | $1,343,177 | +13.7% |
By Property Type
Contracts Signed
- The luxury condo sector boomed, soaring 54.5% and 33.3% in activity for the $10M–$20M and $20M+ price points, respectively, with the latter seeing a 13.9% higher average last asking price
- Co-op performance by price was split at $3M, with modest declines seen below this threshold, while above it saw growth or no change
- The $5M–$10M range for condos was the only bracket to see a decline in contracts, falling 11.5% year over year, correlated to a 15.7% decline in inventory for the bracket
Overall Summary
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Contracts | 2,994 | 1,995 | +50.1% | 2,906 | +3.0% |
| Avg. Discount | 5% | 6% | — | 5% | — |
| Median Price | $1,295,000 | $1,400,000 | −7.5% | $1,295,000 | — |
| Average Price | $2,170,948 | $2,629,048 | −17.4% | $2,125,330 | +2.1% |
| Avg. PPSF | $1,543 | $1,715 | −10.0% | $1,548 | −0.3% |
| Avg. Sq Ft | 1,363 | 1,437 | −5.1% | 1,335 | +2.1% |
Condos
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Contracts | 1,338 | 1,031 | +29.8% | 1,245 | +7.5% |
| Avg. Discount | 5% | 5% | — | 5% | — |
| Median Price | $1,799,500 | $1,995,000 | −9.8% | $1,825,000 | −1.4% |
| Average Price | $2,913,559 | $3,550,165 | −17.9% | $2,891,047 | +0.8% |
| Avg. PPSF | $1,774 | $1,921 | −7.7% | $1,819 | −2.5% |
| Avg. Sq Ft | 1,442 | 1,526 | −5.5% | 1,412 | +2.1% |
Co-ops
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Contracts | 1,656 | 964 | +71.8% | 1,661 | −0.3% |
| Avg. Discount | 5% | 7% | — | 5% | — |
| Median Price | $965,000 | $995,000 | −3.0% | $950,000 | +1.6% |
| Average Price | $1,570,940 | $1,643,911 | −4.4% | $1,551,389 | +1.3% |
By Property Type
Inventory
- Lower Manhattan was the only submarket to see an increase in inventory, though it was only up 1.2% compared to Q2 2025
- High-end co-ops were the only group to see significant growth in active listings, with the $10M–$20M range up 32.4% and the $20M+ bracket up 20.0%, suggesting a strong luxury market performance in Q3 2026
- New listings were down 13.0% overall compared to Q2 2025, which was the primary cause of the inventory decline seen this quarter
Overall Summary
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Actives | 6,616 | 5,900 | +12.1% | 7,210 | −8.2% |
| Median Price | $1,399,000 | $1,499,000 | −6.7% | $1,495,000 | −6.4% |
| Average Price | $3,042,619 | $3,080,095 | −1.2% | $2,950,429 | +3.1% |
| Avg. PPSF | $1,727 | $1,771 | −2.5% | $1,726 | +0.1% |
| Avg. Sq Ft | 1,565 | 1,582 | −1.1% | 1,539 | +1.7% |
Condos
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Actives | 3,422 | 3,346 | +2.3% | 3,724 | −8.1% |
| Median Price | $1,975,000 | $2,047,500 | −3.5% | $2,150,000 | −8.1% |
| Average Price | $4,040,339 | $3,931,479 | +2.8% | $3,941,368 | +2.5% |
| Avg. PPSF | $1,959 | $1,972 | −0.7% | $1,994 | −1.8% |
| Avg. Sq Ft | 1,668 | 1,660 | +0.5% | 1,656 | +0.7% |
Co-ops
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Actives | 3,194 | 2,554 | +25.1% | 3,486 | −8.4% |
| Median Price | $925,000 | $949,000 | −2.5% | $949,000 | −2.5% |
| Average Price | $1,973,679 | $1,964,695 | +0.5% | $1,891,836 | +4.3% |
Q2 2026 Total Inventory — by Bedroom
Q2 2026 Newly Listed Inventory — by Bedroom
Submarket Overview
Upper West Side
Q2 2026 Market Share by Bedroom
Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 519 | 468 | +10.9% | 513 | +1.2% |
| Sales Volume | $1,349,748,974 | $1,205,324,910 | +12.0% | $1,104,417,864 | +22.2% |
| Avg. Discount | 5% | 5% | — | 5% | — |
| Median Price | $1,425,550 | $1,385,819 | +2.9% | $1,320,000 | +8.0% |
| Average Price | $2,600,672 | $2,575,481 | +1.0% | $2,152,861 | +20.8% |
| Avg. PPSF | $1,684 | $1,667 | +1.0% | $1,601 | +5.2% |
| Avg. Sq Ft | 1,496 | 1,455 | +2.8% | 1,341 | +11.6% |
Contracts
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Contracts | 540 | 364 | +48.4% | 544 | −0.7% |
| Avg. Discount | 4% | 6% | — | 5% | — |
| Median Price | $1,375,000 | $1,587,500 | −13.4% | $1,450,000 | −5.2% |
| Average Price | $2,238,790 | $2,801,995 | −20.1% | $2,125,678 | +5.3% |
| Avg. PPSF | $1,566 | $1,770 | −11.5% | $1,558 | +0.5% |
| Avg. Sq Ft | 1,414 | 1,535 | −7.9% | 1,353 | +4.5% |
Inventory
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Actives | 936 | 868 | +7.8% | 1,124 | −16.7% |
| Median Price | $1,650,000 | $1,785,000 | −7.6% | $1,795,000 | −8.1% |
| Average Price | $3,233,098 | $3,533,246 | −8.5% | $3,279,961 | −1.4% |
| Avg. PPSF | $1,883 | $1,936 | −2.7% | $1,878 | +0.3% |
| Avg. Sq Ft | 1,668 | 1,677 | −0.5% | 1,663 | +0.3% |
Condos — Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 237 | 196 | +20.9% | 246 | −3.7% |
| Sales Volume | $907,516,522 | $751,938,446 | +20.7% | $722,245,781 | +25.7% |
| Avg. Discount | 6% | 5% | — | 4% | — |
| Median Price | $2,080,000 | $1,937,500 | +7.4% | $1,615,000 | +28.8% |
| Average Price | $3,829,184 | $3,836,421 | −0.2% | $2,935,958 | +30.4% |
| Avg. PPSF | $1,922 | $1,889 | +1.7% | $1,772 | +8.5% |
| Avg. Sq Ft | 1,664 | 1,592 | +4.5% | 1,451 | +14.7% |
Condos — Median Price by Bedroom
| Bedrooms | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| Studio | $742,500 | $705,000 | +5.3% | $769,481 | −3.5% |
| 1 Bedroom | $998,903 | $1,013,158 | −1.4% | $1,034,706 | −3.5% |
| 2 Bedroom | $2,070,000 | $1,883,441 | +9.9% | $1,996,250 | +3.7% |
| 3 Bedroom | $3,495,000 | $3,925,000 | −11.0% | $4,499,250 | −22.3% |
| 4+ Bedroom | $8,500,000 | $8,950,000 | −5.0% | $6,817,000 | +24.7% |
Co-ops — Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 282 | 272 | +3.7% | 267 | +5.6% |
| Sales Volume | $442,232,452 | $453,386,464 | −2.5% | $382,172,083 | +15.7% |
| Avg. Discount | 5% | 6% | — | 6% | — |
| Median Price | $990,000 | $1,007,188 | −1.7% | $985,000 | +0.5% |
| Average Price | $1,568,200 | $1,666,862 | −5.9% | $1,431,356 | +9.6% |
Co-ops — Median Price by Bedroom
| Bedrooms | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| Studio | $425,000 | $447,500 | −5.0% | $520,000 | −18.3% |
| 1 Bedroom | $740,000 | $665,000 | +11.3% | $715,000 | +3.5% |
| 2 Bedroom | $1,457,500 | $1,422,500 | +2.5% | $1,360,000 | +7.2% |
| 3 Bedroom | $2,295,000 | $2,250,000 | +2.0% | $2,450,000 | −6.3% |
| 4+ Bedroom | $3,000,000 | $3,447,500 | −13.0% | $3,950,000 | −24.1% |
Submarket Overview
Upper East Side
Q2 2026 Market Share by Bedroom
Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 602 | 453 | +32.9% | 598 | +0.7% |
| Sales Volume | $1,440,344,068 | $1,046,386,943 | +37.6% | $1,242,101,895 | +16.0% |
| Avg. Discount | 7% | 7% | — | 8% | — |
| Median Price | $1,250,000 | $1,350,000 | −7.4% | $1,225,000 | +2.0% |
| Average Price | $2,392,598 | $2,309,905 | +3.6% | $2,077,093 | +15.2% |
| Avg. PPSF | $1,376 | $1,367 | +0.7% | $1,338 | +2.8% |
| Avg. Sq Ft | 1,433 | 1,417 | +1.1% | 1,415 | +1.3% |
Contracts
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Contracts | 638 | 440 | +45.0% | 657 | −2.9% |
| Avg. Discount | 5% | 6% | — | 5% | — |
| Median Price | $1,450,000 | $1,395,000 | +3.9% | $1,400,000 | +3.6% |
| Average Price | $2,229,100 | $3,202,437 | −30.4% | $2,392,330 | −6.8% |
| Avg. PPSF | $1,356 | $1,701 | −20.3% | $1,439 | −5.8% |
| Avg. Sq Ft | 1,439 | 1,647 | −12.6% | 1,524 | −5.6% |
Inventory
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Actives | 1,218 | 1,079 | +12.9% | 1,346 | −9.5% |
| Median Price | $1,625,000 | $1,675,000 | −3.0% | $1,650,000 | −1.5% |
| Average Price | $3,411,109 | $3,290,647 | +3.7% | $3,305,443 | +3.2% |
| Avg. PPSF | $1,649 | $1,638 | +0.7% | $1,632 | +1.0% |
| Avg. Sq Ft | 1,775 | 1,754 | +1.2% | 1,763 | +0.7% |
Condos — Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 184 | 132 | +39.4% | 181 | +1.7% |
| Sales Volume | $580,092,966 | $388,953,859 | +49.1% | $504,751,648 | +14.9% |
| Avg. Discount | 5% | 7% | — | 8% | — |
| Median Price | $1,885,000 | $1,778,750 | +6.0% | $1,825,000 | +3.3% |
| Average Price | $3,152,679 | $2,946,620 | +7.0% | $2,788,683 | +13.1% |
| Avg. PPSF | $1,711 | $1,621 | +5.6% | $1,650 | +3.7% |
| Avg. Sq Ft | 1,492 | 1,528 | −2.4% | 1,490 | +0.1% |
Condos — Median Price by Bedroom
| Bedrooms | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| Studio | $585,000 | $580,000 | +0.9% | $632,500 | −7.5% |
| 1 Bedroom | $900,000 | $885,000 | +1.7% | $885,000 | +1.7% |
| 2 Bedroom | $1,951,982 | $1,942,500 | +0.5% | $2,100,000 | −7.0% |
| 3 Bedroom | $4,350,000 | $2,995,000 | +45.2% | $3,362,500 | +29.4% |
| 4+ Bedroom | $6,495,000 | $8,400,000 | −22.7% | $7,800,000 | −16.7% |
Co-ops — Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 418 | 321 | +30.2% | 417 | +0.2% |
| Sales Volume | $860,251,102 | $657,433,084 | +30.8% | $737,350,247 | +16.7% |
| Avg. Discount | 7% | 7% | — | 8% | — |
| Median Price | $995,000 | $1,200,000 | −17.1% | $985,000 | +1.0% |
| Average Price | $2,058,017 | $2,048,078 | +0.5% | $1,768,226 | +16.4% |
Co-ops — Median Price by Bedroom
| Bedrooms | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| Studio | $430,000 | $435,000 | −1.1% | $410,000 | +4.9% |
| 1 Bedroom | $666,125 | $605,000 | +10.1% | $660,000 | +0.9% |
| 2 Bedroom | $1,350,000 | $1,375,000 | −1.8% | $1,350,000 | — |
| 3 Bedroom | $2,599,000 | $2,636,500 | −1.4% | $2,575,000 | +0.9% |
| 4+ Bedroom | $5,475,000 | $5,400,000 | +1.4% | $5,800,000 | −5.6% |
Submarket Overview
Midtown West
Q2 2026 Market Share by Bedroom
Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 91 | 90 | +1.1% | 115 | −20.9% |
| Sales Volume | $138,486,604 | $131,803,520 | +5.1% | $179,937,527 | −23.0% |
| Avg. Discount | 8% | 10% | — | 7% | — |
| Median Price | $1,100,000 | $1,162,500 | −5.4% | $925,000 | +18.9% |
| Average Price | $1,521,831 | $1,464,484 | +3.9% | $1,564,674 | −2.7% |
| Avg. PPSF | $1,458 | $1,401 | +4.1% | $1,368 | +6.6% |
| Avg. Sq Ft | 1,055 | 1,077 | −2.0% | 1,095 | −3.7% |
Contracts
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Contracts | 113 | 68 | +66.2% | 97 | +16.5% |
| Avg. Discount | 5% | 7% | — | 6% | — |
| Median Price | $1,222,000 | $1,149,944 | +6.3% | $950,000 | +28.6% |
| Average Price | $1,852,560 | $1,549,616 | +19.5% | $1,291,414 | +43.5% |
| Avg. PPSF | $1,571 | $1,501 | +4.7% | $1,412 | +11.3% |
| Avg. Sq Ft | 1,222 | 1,027 | +19.0% | 1,046 | +16.8% |
Inventory
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Actives | 374 | 305 | +22.6% | 377 | −0.8% |
| Median Price | $1,250,000 | $1,340,000 | −6.7% | $1,360,000 | −8.1% |
| Average Price | $1,801,388 | $2,056,275 | −12.4% | $2,077,056 | −13.3% |
| Avg. PPSF | $1,615 | $1,736 | −7.0% | $1,696 | −4.8% |
| Avg. Sq Ft | 1,072 | 1,185 | −9.5% | 1,212 | −11.6% |
Condos — Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 75 | 66 | +13.6% | 84 | −10.7% |
| Sales Volume | $128,016,609 | $112,539,140 | +13.8% | $162,141,235 | −21.0% |
| Avg. Discount | 8% | 10% | — | 8% | — |
| Median Price | $1,290,000 | $1,362,500 | −5.3% | $1,192,500 | +8.2% |
| Average Price | $1,706,888 | $1,705,138 | +0.1% | $1,930,253 | −11.6% |
| Avg. PPSF | $1,498 | $1,491 | +0.5% | $1,482 | +1.1% |
| Avg. Sq Ft | 1,082 | 1,084 | −0.2% | 1,182 | −8.5% |
Condos — Median Price by Bedroom
| Bedrooms | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| Studio | $625,000 | $549,000 | +13.8% | $620,000 | +0.8% |
| 1 Bedroom | $978,169 | $1,135,000 | −13.8% | $957,500 | +2.2% |
| 2 Bedroom | $1,530,000 | $1,725,000 | −11.3% | $1,595,000 | −4.1% |
| 3 Bedroom | $2,460,000 | $2,568,986 | −4.2% | $2,435,084 | +1.0% |
| 4+ Bedroom | $7,700,000 | $4,463,865 | +72.5% | $12,600,000 | −38.9% |
Co-ops — Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 16 | 24 | −33.3% | 31 | −48.4% |
| Sales Volume | $10,469,995 | $19,264,380 | −45.7% | $17,796,292 | −41.2% |
| Avg. Discount | 8% | 9% | — | 5% | — |
| Median Price | $567,500 | $612,000 | −7.3% | $525,000 | +8.1% |
| Average Price | $654,375 | $802,683 | −18.5% | $574,074 | +14.0% |
Co-ops — Median Price by Bedroom
| Bedrooms | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| Studio | $423,000 | $397,000 | +6.5% | $425,000 | −0.5% |
| 1 Bedroom | $550,000 | $699,000 | −21.3% | $575,000 | −4.3% |
| 2 Bedroom | $801,000 | $1,050,000 | −23.7% | $875,000 | −8.5% |
| 3 Bedroom | — | — | — | — | — |
| 4+ Bedroom | — | $4,200,000 | — | — | — |
Submarket Overview
Midtown East
Q2 2026 Market Share by Bedroom
Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 455 | 402 | +13.2% | 487 | −6.6% |
| Sales Volume | $765,475,440 | $810,462,763 | −5.6% | $922,005,184 | −17.0% |
| Avg. Discount | 7% | 8% | — | 7% | — |
| Median Price | $980,000 | $999,500 | −2.0% | $905,795 | +8.2% |
| Average Price | $1,682,364 | $2,016,077 | −16.6% | $1,893,234 | −11.1% |
| Avg. PPSF | $1,445 | $1,532 | −5.7% | $1,437 | +0.6% |
| Avg. Sq Ft | 1,140 | 1,187 | −4.0% | 1,152 | −1.0% |
Contracts
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Contracts | 507 | 328 | +54.6% | 514 | −1.4% |
| Avg. Discount | 7% | 6% | — | 6% | — |
| Median Price | $949,000 | $995,000 | −4.6% | $1,110,000 | −14.5% |
| Average Price | $1,540,930 | $1,952,337 | −21.1% | $1,684,086 | −8.5% |
| Avg. PPSF | $1,390 | $1,473 | −5.6% | $1,490 | −6.7% |
| Avg. Sq Ft | 1,125 | 1,213 | −7.3% | 1,158 | −2.8% |
Inventory
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Actives | 1,377 | 1,202 | +14.6% | 1,448 | −4.9% |
| Median Price | $1,250,000 | $1,297,000 | −3.6% | $1,212,500 | +3.1% |
| Average Price | $3,281,218 | $3,303,144 | −0.7% | $3,115,876 | +5.3% |
| Avg. PPSF | $1,777 | $1,861 | −4.5% | $1,813 | −2.0% |
| Avg. Sq Ft | 1,538 | 1,533 | +0.3% | 1,398 | +10.0% |
Condos — Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 229 | 209 | +9.6% | 218 | +5.0% |
| Sales Volume | $544,622,310 | $646,264,621 | −15.7% | $684,768,580 | −20.5% |
| Avg. Discount | 7% | 8% | — | 7% | — |
| Median Price | $1,465,000 | $1,500,000 | −2.3% | $1,467,500 | −0.2% |
| Average Price | $2,378,263 | $3,092,175 | −23.1% | $3,141,140 | −24.3% |
| Avg. PPSF | $1,758 | $1,882 | −6.6% | $1,891 | −7.0% |
| Avg. Sq Ft | 1,179 | 1,291 | −8.7% | 1,249 | −5.6% |
Condos — Median Price by Bedroom
| Bedrooms | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| Studio | $597,000 | $574,000 | +4.0% | $613,000 | −2.6% |
| 1 Bedroom | $915,000 | $1,235,000 | −25.9% | $1,180,000 | −22.5% |
| 2 Bedroom | $2,100,000 | $1,825,000 | +15.1% | $1,815,000 | +15.7% |
| 3 Bedroom | $4,025,000 | $2,350,000 | +71.3% | $6,860,278 | −41.3% |
| 4+ Bedroom | $6,425,000 | $9,525,000 | −32.5% | $21,000,000 | −69.4% |
Co-ops — Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 226 | 193 | +17.1% | 269 | −16.0% |
| Sales Volume | $220,853,130 | $164,198,142 | +34.5% | $237,236,604 | −6.9% |
| Avg. Discount | 7% | 8% | — | 7% | — |
| Median Price | $733,179 | $715,000 | +2.5% | $645,000 | +13.7% |
| Average Price | $977,226 | $850,768 | +14.9% | $881,920 | +10.8% |
Co-ops — Median Price by Bedroom
| Bedrooms | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| Studio | $367,000 | $378,000 | −2.9% | $395,000 | −7.1% |
| 1 Bedroom | $655,000 | $675,000 | −3.0% | $620,000 | +5.6% |
| 2 Bedroom | $1,075,000 | $1,081,577 | −0.6% | $1,026,157 | +4.8% |
| 3 Bedroom | $1,915,000 | $2,017,500 | −5.1% | $1,595,000 | +20.1% |
| 4+ Bedroom | $1,275,000 | $2,035,000 | −37.3% | $2,450,000 | −48.0% |
Submarket Overview
Downtown
Q2 2026 Market Share by Bedroom
Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 681 | 551 | +23.6% | 759 | −10.3% |
| Sales Volume | $1,764,921,414 | $1,488,152,782 | +18.6% | $2,091,363,824 | −15.6% |
| Avg. Discount | 7% | 7% | — | 8% | — |
| Median Price | $1,685,000 | $1,815,000 | −7.2% | $1,600,000 | +5.3% |
| Average Price | $2,591,661 | $2,700,822 | −4.0% | $2,755,420 | −5.9% |
| Avg. PPSF | $1,845 | $1,891 | −2.4% | $1,813 | +1.8% |
| Avg. Sq Ft | 1,524 | 1,520 | +0.3% | 1,481 | +2.9% |
Contracts
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Contracts | 814 | 526 | +54.8% | 794 | +2.5% |
| Avg. Discount | 4% | 6% | — | 5% | — |
| Median Price | $1,785,000 | $2,282,500 | −21.8% | $1,795,000 | −0.6% |
| Average Price | $2,930,327 | $3,161,347 | −7.3% | $2,690,279 | +8.9% |
| Avg. PPSF | $1,972 | $2,105 | −6.3% | $1,890 | +4.3% |
| Avg. Sq Ft | 1,583 | 1,626 | −2.6% | 1,486 | +6.5% |
Inventory
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Actives | 1,620 | 1,464 | +10.7% | 1,793 | −9.6% |
| Median Price | $1,995,000 | $2,200,000 | −9.3% | $2,150,000 | −7.2% |
| Average Price | $3,684,874 | $3,739,619 | −1.5% | $3,483,673 | +5.8% |
| Avg. PPSF | $2,031 | $2,080 | −2.4% | $2,009 | +1.1% |
| Avg. Sq Ft | 1,806 | 1,822 | −0.9% | 1,769 | +2.1% |
Condos — Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 336 | 275 | +22.2% | 388 | −13.4% |
| Sales Volume | $1,276,150,363 | $1,068,705,162 | +19.4% | $1,557,533,789 | −18.1% |
| Avg. Discount | 8% | 7% | — | 8% | — |
| Median Price | $2,557,995 | $2,995,000 | −14.6% | $2,570,000 | −0.5% |
| Average Price | $3,798,067 | $3,886,201 | −2.3% | $4,014,262 | −5.4% |
| Avg. PPSF | $2,091 | $2,130 | −1.8% | $2,039 | +2.6% |
| Avg. Sq Ft | 1,700 | 1,631 | +4.2% | 1,693 | +0.4% |
Condos — Median Price by Bedroom
| Bedrooms | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| Studio | $770,000 | $750,000 | +2.7% | $820,000 | −6.1% |
| 1 Bedroom | $1,442,500 | $1,408,425 | +2.4% | $1,420,000 | +1.6% |
| 2 Bedroom | $2,645,178 | $2,912,250 | −9.2% | $2,700,000 | −2.0% |
| 3 Bedroom | $4,950,637 | $4,750,000 | +4.2% | $4,450,000 | +11.3% |
| 4+ Bedroom | $9,995,000 | $8,250,000 | +21.2% | $8,650,000 | +15.5% |
Co-ops — Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 345 | 276 | +25.0% | 371 | −7.0% |
| Sales Volume | $488,771,051 | $419,447,620 | +16.5% | $533,830,035 | −8.4% |
| Avg. Discount | 7% | 7% | — | 8% | — |
| Median Price | $1,047,500 | $982,500 | +6.6% | $985,000 | +6.3% |
| Average Price | $1,416,728 | $1,519,738 | −6.8% | $1,438,895 | −1.5% |
Co-ops — Median Price by Bedroom
| Bedrooms | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| Studio | $532,000 | $512,500 | +3.8% | $520,000 | +2.3% |
| 1 Bedroom | $900,000 | $877,500 | +2.6% | $910,000 | −1.1% |
| 2 Bedroom | $1,670,000 | $1,800,000 | −7.2% | $1,750,000 | −4.6% |
| 3 Bedroom | $2,495,000 | $3,250,000 | −23.2% | $3,400,000 | −26.6% |
| 4+ Bedroom | $3,449,500 | $4,650,000 | −25.8% | $5,787,500 | −40.4% |
Submarket Overview
FiDi / Battery Park City
Q2 2026 Market Share by Bedroom
Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 121 | 108 | +12.0% | 120 | +0.8% |
| Sales Volume | $213,217,108 | $172,272,392 | +23.8% | $187,329,775 | +13.8% |
| Avg. Discount | 8% | 7% | — | 8% | — |
| Median Price | $1,450,000 | $1,240,000 | +16.9% | $1,102,500 | +31.5% |
| Average Price | $1,762,125 | $1,595,115 | +10.5% | $1,561,081 | +12.9% |
| Avg. PPSF | $1,403 | $1,367 | +2.6% | $1,301 | +7.8% |
| Avg. Sq Ft | 1,242 | 1,129 | +10.0% | 1,117 | +11.2% |
Contracts
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Contracts | 127 | 95 | +33.7% | 102 | +24.5% |
| Avg. Discount | 5% | 6% | — | 5% | — |
| Median Price | $1,195,000 | $1,545,000 | −22.7% | $980,000 | +21.9% |
| Average Price | $1,694,011 | $2,071,809 | −18.2% | $1,390,577 | +21.8% |
| Avg. PPSF | $1,358 | $1,586 | −14.4% | $1,326 | +2.4% |
| Avg. Sq Ft | 1,186 | 1,219 | −2.7% | 1,001 | +18.5% |
Inventory
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Actives | 426 | 358 | +19.0% | 421 | +1.2% |
| Median Price | $1,372,500 | $1,350,000 | +1.7% | $1,350,000 | +1.7% |
| Average Price | $2,000,729 | $2,075,507 | −3.6% | $1,956,982 | +2.2% |
| Avg. PPSF | $1,501 | $1,449 | +3.6% | $1,454 | +3.2% |
| Avg. Sq Ft | 1,236 | 1,322 | −6.5% | 1,261 | −2.0% |
Condos — Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 103 | 93 | +10.8% | 89 | +15.7% |
| Sales Volume | $190,232,026 | $156,505,274 | +21.5% | $145,076,896 | +31.1% |
| Avg. Discount | 9% | 8% | — | 9% | — |
| Median Price | $1,490,000 | $1,395,000 | +6.8% | $1,100,000 | +35.5% |
| Average Price | $1,846,913 | $1,682,852 | +9.7% | $1,630,077 | +13.3% |
| Avg. PPSF | $1,417 | $1,398 | +1.4% | $1,308 | +8.3% |
| Avg. Sq Ft | 1,262 | 1,153 | +9.5% | 1,130 | +11.7% |
Condos — Median Price by Bedroom
| Bedrooms | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| Studio | $670,000 | $599,000 | +11.9% | $670,009 | 0.0% |
| 1 Bedroom | $1,062,750 | $910,000 | +16.8% | $815,000 | +30.4% |
| 2 Bedroom | $1,665,000 | $1,652,500 | +0.8% | $1,680,000 | −0.9% |
| 3 Bedroom | $3,087,500 | $2,990,000 | +3.3% | $3,575,000 | −13.6% |
| 4+ Bedroom | $8,100,000 | $3,400,000 | +138.2% | $4,225,000 | +91.7% |
Co-ops — Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 18 | 15 | +20.0% | 31 | −41.9% |
| Sales Volume | $22,985,082 | $15,767,118 | +45.8% | $42,252,879 | −45.6% |
| Avg. Discount | 6% | 1% | — | 4% | — |
| Median Price | $936,375 | $1,007,250 | −7.0% | $1,105,000 | −15.3% |
| Average Price | $1,276,949 | $1,051,141 | +21.5% | $1,362,996 | −6.3% |
Co-ops — Median Price by Bedroom
| Bedrooms | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| Studio | $390,000 | $550,000 | −29.1% | $698,750 | −44.2% |
| 1 Bedroom | $853,875 | $918,625 | −7.0% | $863,750 | −1.1% |
| 2 Bedroom | $875,000 | $1,250,000 | −30.0% | $1,330,000 | −34.2% |
| 3 Bedroom | $2,795,000 | $2,895,000 | −3.5% | $2,325,400 | +20.2% |
| 4+ Bedroom | — | — | — | $2,800,000 | — |
Submarket Overview
Upper Manhattan
Q2 2026 Market Share by Bedroom
Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 181 | 168 | +7.7% | 195 | −7.2% |
| Sales Volume | $165,640,076 | $139,463,261 | +18.8% | $154,342,817 | +7.3% |
| Avg. Discount | 9% | 7% | — | 7% | — |
| Median Price | $650,000 | $629,500 | +3.3% | $585,000 | +11.1% |
| Average Price | $915,139 | $830,138 | +10.2% | $791,502 | +15.6% |
| Avg. PPSF | $901 | $860 | +4.8% | $835 | +7.9% |
| Avg. Sq Ft | 1,081 | 1,031 | +4.8% | 1,025 | +5.5% |
Contracts
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Contracts | 222 | 126 | +76.2% | 192 | +15.6% |
| Avg. Discount | 6% | 8% | — | 6% | — |
| Median Price | $639,000 | $675,000 | −5.3% | $650,000 | −1.7% |
| Average Price | $915,893 | $900,260 | +1.7% | $890,589 | +2.8% |
| Avg. PPSF | $869 | $941 | −7.7% | $840 | +3.5% |
| Avg. Sq Ft | 1,048 | 1,002 | +4.6% | 1,023 | +2.4% |
Inventory
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Actives | 617 | 549 | +12.4% | 675 | −8.6% |
| Median Price | $649,000 | $699,000 | −7.2% | $679,900 | −4.5% |
| Average Price | $970,559 | $1,036,366 | −6.3% | $1,014,486 | −4.3% |
| Avg. PPSF | $912 | $959 | −4.9% | $926 | −1.5% |
| Avg. Sq Ft | 1,081 | 1,082 | −0.1% | 1,084 | −0.3% |
Condos — Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 85 | 70 | +21.4% | 75 | +13.3% |
| Sales Volume | $100,076,430 | $75,656,047 | +32.3% | $80,324,013 | +24.6% |
| Avg. Discount | 9% | 8% | — | 8% | — |
| Median Price | $855,000 | $760,250 | +12.5% | $799,000 | +7.0% |
| Average Price | $1,177,370 | $1,080,801 | +8.9% | $1,070,987 | +9.9% |
| Avg. PPSF | $1,038 | $1,006 | +3.2% | $1,019 | +1.9% |
| Avg. Sq Ft | 1,082 | 1,060 | +2.1% | 1,104 | −2.0% |
Condos — Median Price by Bedroom
| Bedrooms | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| Studio | $403,000 | $473,913 | −15.0% | $445,000 | −9.4% |
| 1 Bedroom | $622,500 | $595,000 | +4.6% | $625,000 | −0.4% |
| 2 Bedroom | $937,500 | $950,000 | −1.3% | $950,000 | −1.3% |
| 3 Bedroom | $1,995,000 | $1,295,000 | +54.1% | $1,275,000 | +56.5% |
| 4+ Bedroom | $3,467,500 | $3,550,000 | −2.3% | $2,325,000 | +49.1% |
Co-ops — Sales
| Metric | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| # Sales | 96 | 98 | −2.0% | 120 | −20.0% |
| Sales Volume | $65,563,646 | $63,807,214 | +2.8% | $74,018,804 | −11.4% |
| Avg. Discount | 9% | 6% | — | 7% | — |
| Median Price | $502,500 | $532,500 | −5.6% | $479,500 | +4.8% |
| Average Price | $682,955 | $651,094 | +4.9% | $616,823 | +10.7% |
Co-ops — Median Price by Bedroom
| Bedrooms | Q2 2026 | Q1 2026 | % Chg | Q2 2025 | % YoY |
|---|
| Studio | $230,000 | $300,000 | −23.3% | $275,000 | −16.4% |
| 1 Bedroom | $379,000 | $422,500 | −10.3% | $340,000 | +11.5% |
| 2 Bedroom | $606,000 | $555,000 | +9.2% | $550,000 | +10.2% |
| 3 Bedroom | $725,000 | $918,750 | −21.1% | $975,000 | −25.6% |
| 4+ Bedroom | $1,435,000 | $890,000 | +61.2% | $637,500 | +125.1% |
Methodology
- Geography
- Manhattan borough, as reported in the REBNY RLS and ACRIS.
- Inventory
- All properties actively listed during the quarter at the time the report is prepared.
- Contracts Signed
- Publicly reported transactions at time of report. Signed price reflects the latest available asking price.
- Recorded Sales
- Known closings recorded at the time the report is prepared.
- Median Price
- The middle price of a given dataset.
- Average Price
- Sum of all prices divided by the total number of properties.
- Months of Supply
- Estimated time to sell all current active listings based on trailing 12-month sales rate.
- Time on Market
- Calculated by how many properties entered contract during the quarter in the given period.
- Discount
- Percentage difference between the initial list and recorded sale price.
- Bedroom Count
- The number of bedrooms a property has, as reported in the listing, or acquired from tax records when available.
- Current Quarter
- Reflective of the initial day of the quarter until the 20th day of the quarter’s closing month. Numbers will be updated in subsequent reports to reflect the complete dataset.
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