04/02/2026
Here’s what happened during Manhattan’s first quarter of 2026:
Manhattan entered 2026 from a position of strength. Closings rose 1% year over year to 2,757, the sixth consecutive quarter of annual sales growth and the strongest first quarter since 2022.
Inventory remains one of the biggest constraints, especially on the new development side. Active inventory fell 2% YOY to just over 6,000 units, which is a five-year low for a first quarter.
Strong luxury demand and that supply constraint is part of what’s driving pricing. Median price increased 9% YOY to about $1.28 million, and price per square foot rose 4% to $1,972.