January NYC Luxury Real Estate Market Report

Written By Vicky Zhang


The start of 2026 has brought clarity to the luxury real estate conversation. After a predictable year-end pause, the market has re-engaged with focus—driven by constrained supply, value-aligned pricing, and buyers prioritizing certainty over momentum. From Manhattan to the Hamptons and Alpine, this is not speculative energy returning. It is confidence re-entering the market quietly and decisively.

Manhattan Market Overview

The Manhattan residential market enters 2026 on a foundation of broad strength, constrained supply, and stable pricing dynamics.

Key Metrics and Trends:

  • 2025 saw nearly $12 billion in total Manhattan luxury sales (above $4M)—the second-highest yearly total since 2006, underscoring sustained high-end demand.

  • The trophy segment remained resilient, with 284 luxury sales at $10M+, also one of the strongest annual tallies on record.

  • Condominiums continue to outpace co-ops, outselling them roughly 3-to-1, while new development accounted for half of all condo sales in 2025.

  • Active inventory remains at cyclic lows—just under 5,000 units citywide—keeping competition firm and supporting price stability, particularly for well-priced listings.

  • According to the New York Post, recent median sales figures show a median sale price around ~$1.17M citywide, up modestly year-over-year, while price per square foot has softened slightly, indicating stability rather than overheated conditions.

  • Cash purchases continue to dominate the high end, with record levels of all-cash deals, especially on properties priced above $3M.

Market Interpretation:

Manhattan’s market is currently balanced but tilted toward disciplined seller strength: demand is real, particularly in luxury and new development, but buyers are price-sensitive and selective. Inventory constraints are a defining characteristic, creating tighter pricing dynamics in prime segments.


Navigating the Market: Strategies for Sellers, Buyers, and Investors

Given the current landscape, buyers and investors should consider:​

  • For Sellers: Pricing discipline is everything. In a market defined by low inventory and selective demand, well-positioned listings continue to command attention, while aspirational pricing is quickly exposed. Sellers who align with current valuation realities—and invest in presentation, timing, and strategic marketing—are best positioned to capture liquidity, particularly in the luxury and new development segments.

  • For Buyers: This is not a market that rewards hesitation—but it does reward preparation. Buyers who are clear on value, flexible on timing, and decisive when the right asset appears are finding opportunities, especially where pricing has adjusted subtly or sellers are motivated by calendar-driven factors rather than distress.

  • For Developers/Investors: Manhattan remains a long-term capital market disguised as a housing market. Stability, legal clarity, and global relevance continue to underpin its appeal. Investors focused on generational holds, income-producing assets, or irreplaceable locations will find that short-term noise has done little to disrupt long-term fundamentals.


“The addition of top teams and continued growth in Manhattan and luxury segments reflects an underlying confidence in New York’s market—buyers and sellers alike see value in well-positioned properties and long-term fundamentals.”
— Matt Stouffer, CEO, Keller Williams NYC

Final Takeaway: January NYC Luxury Real Estate Market Report

As Manhattan enters 2026, the luxury market is neither accelerating recklessly nor pulling back defensively—it is operating with intention. Inventory remains constrained, pricing is holding, and buyers are engaging with clarity rather than urgency. This is a market that continues to reward realism, patience, and conviction. For those aligned with its rhythm, Manhattan remains one of the most reliable luxury real estate environments in the world.


Partnering with Vicky Zhang: Your Guide in NYC Real Estate

With over a decade of experience and a sales volume exceeding $100 million, Vicky Zhang specializes in high-end real estate sales, investments, and rentals across Manhattan, Alpine (New Jersey), and the Hamptons. Recognized as a top 1% real estate agent by China Daily News, Vicky offers personalized services tailored to both domestic and international clients

Connect with Vicky Zhang

For expert guidance in navigating NYC's real estate market, reach out to Vicky Zhang:​



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