April 2026: Manhattan Townhouse Sales Briefing
Townhouse sales in Manhattan are outperforming this year — 20 contracts a month against a historical average of 16, concentrated in Downtown and the Upper East Side. Inventory is tight across nearly every prime submarket. And yet prices in the broad market are drifting lower, not higher, even as supply stays scarce.
At the luxury tier — properties above $12 million — the picture inverts. Prices are firming as inventory stays low, led by Midtown and Downtown, while the Upper West Side continues to carry a supply overhang that the rest of the market isn’t seeing.
Two segments of the same market, moving on different clocks. For an owner or buyer at this level, the number that matters is rarely the headline figure — it’s which of these two markets they’re actually standing in.
A macro view of the Manhattan townhouse market, produced monthly by Javier Ginés.