Compass' Manhattan Market Report, Q1 2026
I'm delighted to share Compass' Q1 2026 Manhattan Market Report, Q1 2026. Despite the challenges of severe weather, geopolitical turmoil, stock market volatility, and a shortage of new listings, the Manhattan market remained resilient. Sales dropped 3.2% year over year, and signed contracts fell 6.7%, which wasn't unexpected due to the aforementioned factors.
A few key takeaways worth highlighting:
Inventory was tight, down 5.4%, with new listings dropping 17.5%. Co-ops were especially impacted. This low supply benefited sellers with less competition and pricing flexibility, especially with possible rate cuts ahead.
Buyers were active but cautious, focusing on well-priced properties, while overpriced ones lingered.
Luxury real estate thrived. Contracts between $10M-$20M jumped 47%, and ultra-luxury condo sales rose 30%. Trophy properties over $30M saw slower activity due to limited inventory, but the $20M-$30M range showed strong demand. Some unreported new development sales may further boost this segment as they come to light.
Here's what we expect for the current spring market. Spring promises opportunities for both sellers and buyers. More listings will come on, relieving inventory constraints. In turn that will get more buyers out (Note: It's already happening).
For the full report, with lots more information and a breakout by area, please click on the button below. And If you're thinking about selling or buying a home, please get in touch. Let's discuss your needs and our best options for achieving them.
