Manhattan Real Estate Market Update

It’s a competitive time for Manhattan home buyers. We saw a big jump in new listings last week - 560 apartments came to market, which is a meaningful amount of fresh inventory.

But zoom out, and supply is still tight. The number of homes for sale remains 14.5% below where it was at this time last year. We started 2026 with exceptionally low inventory, and we’re still playing catch-up. If you're a serious buyer, the best new listings are attracting competition. This is a market where being ready to move when the right apartment comes along can make a difference.

As for sellers, I've said this before: September is typically Manhattan’s slowest month, especially before the Jewish holidays. Interest rates are also moving higher, which can weigh more heavily on the lower-priced segments. However, I wouldn’t overemphasize rates. Seasonality tends to drive the Manhattan market more than short-term rate moves.