Condo sales in Manhattan stayed strong through July, but the story underneath is shifting: sellers are pulling back their commitment, the broad market has slipped back into balance, and luxury prices keep falling even with inventory still tight. Two segments of the same market, moving for very different reasons.
Townhouse sales in Manhattan held strong through July, with demand broadening across every submarket even as inventory tightened. But the two tiers are pulling apart — the broad market is being bought, while luxury sellers grow increasingly conditional about letting go.
June’s condo sales briefing tracks a broad Manhattan market where demand is now strong across all four submarkets, even as rising inventory pushes the city into buyer’s territory. In the luxury tier, sales continue to outperform and inventory stays tight — but a curious price decline in the Upper East Side breaks the pattern the rest of the segment is showing.
Townhouse sales in Manhattan overperformed again in June, with demand broadening across every prime submarket for the first time in a while. Inventory stayed low and prices kept recovering, though the luxury tier’s gains remain uneven by submarket.
Condo sales are running about average this year, but rising inventory has pushed the broad market into buyer’s territory. Luxury tells a different story — demand stays strong and prices, while off their early-year peak, remain firm.
Manhattan townhouse sales overperformed in May, with demand concentrated Downtown and inventory still tight enough to keep the advantage with sellers. The luxury tier moved even faster — but in a market this thin, the broad numbers and the luxury numbers are telling two different stories. Here’s what May’s data actually shows, and what it means depending on where you sit.
Downtown condo prices are at the same level they were in 2017. A structural analysis of why the plateau has persisted for nearly a decade — and what it would take for prices to move.
Condo sales posted a strong April, but the year-to-date pace still trails normal, and the broad market has tipped into buyer’s-market territory. At the luxury tier, it’s the opposite — demand keeps outrunning supply, and prices are already back above 2017 levels.
Townhouse sales are outperforming this year, and inventory is tight nearly everywhere — but prices in the broad market are drifting lower, not higher. At the luxury tier, it’s the opposite story. Two segments of the same market, moving on very different clocks.
The Manhattan condominium market in March 2026 is two markets moving in opposite directions. Below $5 million, inventory is balanced and prices have stabilized; above $5 million, inventory is at historic lows and prices are rising sharply.
Manhattan’s townhouse market is overperforming on sales while listing activity runs below historical norms — compressing inventory to 7.9 months across prime areas. The pressure is not uniform: Downtown scarcity is pushing serious buyers toward off-market properties, the Upper East Side is holding, and the Upper West Side is not.
Manhattan condo sales surged in October 2025, but high inventory keeps it a buyer’s market. Luxury condos outperform with strong demand.
