Weekly Real Estate News
Summary
Manhattan closed sales rose 9% year over year to 3,625 in Q3 2026 while active listings fell to 6,354, the lowest third-quarter supply since 2017, and the median sale price reached a Q3 record $1.25 million.
Manhattan home sales strengthened in the third quarter even as available inventory tightened and contract activity slowed, according to Corcoran’s Q3 2026 market report.
Closed sales increased 9% from a year earlier to 3,625, the strongest third quarter since 2022 and 8% above the 10-year third-quarter average. Dollar volume rose 10% to approximately $7.3 billion.
Inventory reaches lowest Q3 level since 2017
Active listings fell 3% year over year to 6,354, the thinnest third-quarter inventory since 2017. New listings declined 6% to 3,469, marking a third consecutive annual decline.
New-development supply contracted even more sharply. Sponsor listings fell 22% to 564 units, the lowest level since the fourth quarter of 2012, according to Corcoran.
Prices continue climbing
The median Manhattan sale price increased 4% year over year to a third-quarter record of $1.25 million. Average price per square foot rose 2% to $1,751, while median price per square foot increased 5% to $1,420.
The upper end of the market was particularly strong. Closings above $3 million jumped 25%, and sales between $3 million and $5 million increased 40%. At the same time, signed contracts across the market fell 6% to 2,532.
The combination points to a Manhattan market where completed sales and pricing remain resilient but limited supply is increasingly shaping buyer options.
